Why did DKNG pre-market plummet?

The pre-market price of DKNG declined by 0.07% on August 7, 2025, which can be attributed to the following factors: 1. **Earnings Miss**: DraftKings reported quarterly earnings of $0.38 per share, missing the Zacks Consensus Estimate of $0.41 per share. This earnings miss could lead to investor disappointment and negative sentiment towards the stock. 2. **Tax Rates Impact**: DraftKings updated its full-year guidance to include the anticipated impact of higher tax rates in New Jersey, Louisiana, and Illinois, which could be a concern for investors regarding the company's future profitability. In conclusion, the pre-market price of DKNG declined due to a combination of earnings miss and tax rates impact. |code|Ticker|Name|Date|Pre-Market Percentage Change|market_code| |---|---|---|---|---|---| |DKNG|DKNG.O|DraftKings|20250808|-0.0664|185|