{
  "id": 18561337,
  "title": "DraftKings stock is collapsing: Why shares of the sports-betting app are in retreat today",
  "url": "https://urgent.news/2026/11/06/draftkings-stock-is-collapsing-why-shares-of-the-sports-betting-app",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-06T19:39:00.000Z",
  "source": {
    "name": "Fast Company",
    "slug": "fast-company",
    "url": "https://www.fastcompany.com/91637524/draftkings-stock-collapsing-today-why-shares-in-retreat"
  },
  "original_language": "en",
  "account": "DraftKings, the sports-betting app, is experiencing a decline in its stock value as the company has revised its 2026 financial outlook downwards. This comes amid the growth of prediction markets, which have started drawing attention and popularity in the U.S. market.\n\nDuring its third-quarter earnings report, DraftKings announced that it expects its full-year revenue to reach $6.35 billion to $6.55 billion, which is lower than the previously expected range of $6.5 to $6.9 billion. The company invested $650 million to $700 million in the prediction sector, but this investment won't be reflected in this year's figures.\n\nThe 2027 outlook also paints a slightly brighter picture for DraftKings, with projected revenues from $7.35 billion to $7.75 billion and earnings before interest, taxes, depreciation, and amortization ranging from $800 million to $1 billion. However, these projections fall short of Wall Street analysts' estimated $7.6 billion in revenue for 2027.\n\nDespite these challenges, DraftKings CEO and co-founder Jason Robins remains optimistic, stating that the company is \"set up for an exceptional 2027.\" He also mentioned that over 1.6 million customers have engaged with the Predictions offering year-to-date.",
  "summary": "Sports-betting app DraftKings is not on track to have as good of a year as it once expected, with the company trimming its 2026 financial outlook amid the rise of prediction markets. During its third-quarter earnings report on Thursday, the company said it expects its full-year revenue to reach $6.35 billion to $6.55 billion, falling short of expectations. DraftKings’s previous guidance expected…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}