DraftKings Inc. (NASDAQ:DKNG) ranks among the best sin stocks to buy in 2026. Citing DraftKings Inc. (NASDAQ:DKNG)’s recent performance in the New York market, Benchmark reaffirmed its Buy rating and $37 price target on the company’s shares on December 1. Through Week 12 of this season, New York’s sports betting industry has shown strong year-over-year growth, with handle up 12.7% and revenue up 16.2% when compared to the same period last year. Despite a somewhat weaker hold rate of 8.3% compared to the ...

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Core Insights - DraftKings (DKNG) stock has experienced a decline of approximately 25% over the past month, prompting Ark Invest to purchase shares during this dip [1][2] - Ark Invest acquired a total of 511,049 shares of DKNG through its actively managed ETFs, reflecting Cathie Wood's strategy of capitalizing on market volatility [2] - DraftKings operates as a leading digital sports entertainment company, offering daily fantasy sports, sports betting, and online casino games, leveraging advanced technology and data analytics [3][4] Company Performance - DraftKings has a market capitalization of $16.2 billion and has seen its stock decline by 14% over the past 52 weeks, with a year-to-date decrease of 12% [4][5] - The stock reached a 52-week high of $53.61 in February but is currently down 39% from that peak, while it is up 10% from a 52-week low of $29.64 recorded in April [5] Market Challenges - The stock is under pressure due to broader macroeconomic uncertainties and regulatory challenges, including a 50-cent fee imposed on high-volume sportsbooks in Illinois [6] - Increased competition in the market has also contributed to the stock's volatility, highlighted by a significant drop of 11.6% in DKNG stock on September 30, influenced by concerns over the performance of prediction platforms like Kalshi [6]