DraftKings Surges 0.87% on Strong Earnings and Analyst Upgrades but Ranks 342nd in $310M Trading Volume

On August 12, 2025, DraftKings (DKNG) closed with a 0.87% gain, trading at $42.73 per share. The stock saw a trading volume of $310 million, ranking 342nd in market activity for the day.

Meridian Funds highlighted DraftKings as a top pick in its Q2 2025 investor letter, citing the company’s 20% revenue growth and over 350% EBITDA increase. The fund noted potential for expansion in existing and newly legalized markets, though it emphasized AI stocks as higher-potential alternatives. Separately, Jefferies and Barclays both raised DKNG’s price targets to $54 and $55 respectively, reflecting confidence in its market position.

DraftKings reported Q2 2025 earnings that exceeded expectations, with revenue surging 37% year-over-year to $1.51 billion. Adjusted EBITDA reached a record $301 million, driven by 45% growth in sportsbook net revenue and a 16% rise in live betting handle. CEO Jason Robbins attributed the performance to product innovations and cross-selling strategies between sportsbook and iGaming divisions.

The strategy of buying the top 500 stocks by daily trading volume and holding them for one day generated $2,300 in profit from 2022 to the present. However, the approach faced a maximum drawdown of -15.7% in early 2023, underscoring its inherent risks despite moderate returns.