DraftKings (DKNG) rocketed to new highs this week.
Given the excitement behind this stock, we wouldn’t be shocked to see it double with patience. Just over the last few days, the company teamed with Disney’s ESPN.
“The multiyear agreement lets the online sports betting company become a ‘co-exclusive’ sportsbook link-out provider and exclusive daily fantasy sports provider of media giant Disney,” as reported by Investor’s Business Daily. “The deal allows Boston-based DraftKings to integrate its products and offerings across ESPN’s digital platforms.”
Then, just today, the company announced another sports partnership with the New York Giants. The deal will allow DKNG to access team trademarks and logos as it continues to build its brand. “It’s about all the products,” Chief Business Officer Ezra Kucharz said. “We’re trying to service the sports fan, and the sportsbook and [daily fantasy sports] are important to us, and we’re going to create a lot of opportunities for fans to have fun.”
Better still, the company just secured an equity deal with Michael Jordan and secured its first MLB partnership with the Chicago Cubs.
Keep an eye on the DKNG stock. It could go all the way to $100.