DraftKings Stock Near 2-Year Lows Ahead of Earnings

Core Viewpoint - DraftKings Inc is preparing for its fourth-quarter earnings report, with expectations of increased earnings and revenue compared to the previous year [1] Group 1: Earnings Expectations - DraftKings is anticipated to report earnings of 50 cents per share on revenue of $1.99 billion, marking an increase from the same quarter last year [1] - The company has historically seen positive post-earnings movements, finishing five of its last eight sessions higher, including an 8.6% increase in November [2] Group 2: Stock Performance - Despite the rise in sports betting, DraftKings stock has declined nearly 24% since the beginning of the year, hitting a two-year low of $25.01 on February 5 [3] - The stock was last observed at $26.28, down 3.1%, and has struggled to surpass resistance at the $37.50 level [3] Group 3: Market Dynamics - Short interest in DraftKings represents 7.8% of the stock's available float, indicating potential buying power in the event of a positive earnings report [4] - The stock's 14-day relative strength index (RSI) is at 27.7, indicating it is in "oversold" territory [4]