Here's why the DraftKings stock is in a freefall after earnings

Core Insights - DraftKings experienced a significant decline in stock price following the release of its quarterly results and a weak forward guidance, with shares dropping over 7% to $25 during extended hours [1] Company Summary - The quarterly results published by DraftKings were disappointing, leading to a negative market reaction [1] - The forward guidance provided by the company was perceived as weak, contributing to investor concerns and the subsequent stock price drop [1]