Bears Pounce on Puts After DraftKings’ Potential Merger Mishap
In Wednesday’s Blitz Daily, we’ll take a look at online gambling company DraftKings Inc. after reports of an investigation into its recent acquisition.
The bears were out in full force in the DraftKings options chain on Wednesday. Several news outlets are reporting Golden Nugget Online Gaming may have breached its fiduciary obligations in the $1.5 billion buyout. That was enough blood in the water to attract a wave of bearish activity after the stock climbed more than 10.5% in the week leading up to the announcement.
And while the bears were picking over DraftKings, the bulls were having a field day with retail stocks. See for yourself…
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