The online sports betting giant wowed investors with its bullish forecasts, minting its second … [+]
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DraftKings stock took off on Wednesday after a rosy forecast that wowed Wall Street and made a billionaire out of cofounder and CEO Jason Robins, according to Forbes. The surge also pushed the fortunes of his two cofounders to about $500 million each.
Shares of the daily fantasy and sports-betting company jumped more than 11% Wednesday to close at $69.29 after an investor presentation a day earlier that saw the company raise its long-term net revenue projection from $3.7 billion to $5.4 billion, while EBITDA targets were boosted to $1.7 billion from $1.2 billion. The news came on the heels of a stellar fourth quarter that saw monthly users jump by 500,000 to 1.5 million from the previous quarter. DraftKings reported…
