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DraftKings stock is sinking after earnings.
Courtesy of DraftKings
DraftKings
told investors on Friday that it expected to reach profitability by one financial measure in late 2023.
That forecast, however, was overshadowed by a wider-than-expected projected loss in 2022 as competition in online sports gambling intensifies.
DraftKings shares (ticker: DKNG) were down 14.5%, to $18.86, in morning trading on Friday.
The…
