Another high-profile short report crashed into the market this week, making loads of headlines and — more importantly — lucrative trading opportunities.
Investment research firm Hindenburg Research dropped its latest report profiling online sport-betting platform DraftKings Inc. (Nasdaq: DKNG).
The report alleges a company DraftKings acquired as part of its SPAC deal has some questionable business practices overseas, which DraftKings denied following the report's release.
The DraftKings short report saw the stock gap down 10% from Monday's $50.59 close, sparking a market frenzy.
Volume in DKNG spiked over 400% from its normal levels on the day.
But believe it or not, this short report is the most bullish event that has happened to this stock in months.
Investors have already stepped in to defend the stock, pushing shares back above the $48 mark as of Wednesday morning.
But there was one massive trade that really stood out to me from what looks like an absolute whale...
While it was a good trade for them, it could be even better for us. And that has me more optimistic than ever about where this stock is headed.
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