The fantasy sports contest and sports betting operator crashes after losing 5.87%, down to $12.76.
Following a previous reading of 1.2%, Core Retail Sales in United States released today at 13:30 UTC fell short of the 0.2% figure expected by analysts with an actual reading of -0.2%. United States Retail Sales published today at 13:30 UTC came out at -0.6%, falling short of the -0.1% projections and continuing its decline from the previous 1.3% figure.
While price action maintains a negative bias, United States Philadelphia Fed Manufacturing Index (Dec) came out at -13.8, while a consensus of analysts was expecting -10.
The Commodity Channel Index (CCI) indicator is below -100, meaning the market price is unusually low and below its rolling moving average. Technical analysis indicates that a new, strong downtrend could be forthcoming with short positions favored. A crossing of the lower Bollinger Band® at $13.13 suggests further losses may follow for DraftKings. DraftKings pushed below the $13.12 support level and extended 36 cents beyond it.
Looking forward, DraftKings is poised to extend its strong downtrend and continue declining.
DraftKings's stock value drop coincides with Walt Disney is trading around $90.83 (down 3.53%). Amazon is down 4.06% from the beginning of the session and now trades around $87.86. Nike is down to $108.27, losing 2.85%, after ending yesterday at $111.45.
The sports betting operator is now trading 26.36% below its 3-month high of $30.31.