DraftKings Valuation Under Scrutiny Amidst Robinhood's New Prediction Market Features

DraftKings (DKNG) shares fell 2.95% after Robinhood launched new prediction market features, targeting the same opportunity. The stock has a 30-day return of 16.77% but a year-to-date return of minus 15.18%. Analysts are bullish on DraftKings, with a narrative-based valuation suggesting it is undervalued by 22.9%. However, regulatory backlash and competition from rivals could impact revenue and margin growth.