DraftKings Trading Volume Surges 149.57% to 850M Ranking 120th in Market as Earnings Anticipation Drives 4.93% Gains

On July 30, 2025, DraftKings (DKNG) saw a surge in trading activity, with a volume of $0.85 billion—up 149.57% from the previous day—ranking it 120th in the market. The stock closed up 4.93%, reflecting heightened investor interest ahead of its earnings report on August 6. Analysts anticipate a significant year-over-year revenue increase, though consensus estimates have been revised downward by 133.82% over 30 days, signaling cautious expectations. The Zacks Earnings ESP model predicts a negative deviation from consensus, complicating the likelihood of a positive surprise.

Recent institutional activity highlights shifting investor sentiment. Hood River Capital Management added $31.51 million in DKNG, while ARK Investment Management retained a $479.87 million position. Meanwhile, unusual options trading and large-volume activity suggest speculative positioning. Analysts at Needham & Company and JMP Securities reiterated “Buy” and “Market Outperform” ratings, contrasting with bearish revisions in consensus estimates. Institutional sales, such as Westside Investment Management’s reduction in holdings, underscore diverging views on the stock’s near-term trajectory.

A backtested strategy purchasing top-volume stocks and holding for one day returned 166.71% from 2022 to 2025, outperforming benchmarks by 137.53%. This underscores the potential of volume-driven short-term positioning, as seen in DKNG’s recent performance alongside names like Adobe and Coca-Cola. However, the strategy’s success relies on consistent high-volume trends, which DraftKings has demonstrated amid its earnings-driven volatility.