DraftKings Slips Toward 52-Week Lows as Stifel Trims Target

DraftKings shares closed at $22.81 on Thursday, down about 34% year to date and nearing the stock's 52-week low of $20.46, after a 4.3% drop earlier in the week. Stifel trimmed its price target, citing customer-friendly June sports outcomes and roughly $125 million of investment tied to prediction markets and World Cup marketing.

The company's DKeX prediction-markets push remains a focal point for traders, offering a potential new growth avenue but adding near-term spend at a time when the core sportsbook faces margin scrutiny. Casino peers, including MGM Resorts, remain on screens as the group trades at depressed multiples.

Bulls argue the setup improves from here, pointing to FIFA World Cup, NFL season, and election-cycle engagement as second-half catalysts ahead of DraftKings' expected early-August earnings report.