Jim Cramer Shares His Bullish Stance on DraftKings

DraftKings Inc. (NASDAQ:DKNG) is one of thestocks Jim Cramer recently shed light on. Cramer noted that the company “reported an impressive quarter,” as he remarked:

“As we approach football season, things are already looking pretty darn good for DraftKings, one of the nation’s largest online sportsbooks. I’ve been steadfastly bull on this one, you know, just the whole way. After the close, DraftKings reported an impressive quarter, revenue growth accelerating to 37%, better-than-expected earnings, higher-than-expected earnings before interest, taxes, depreciation, and amortization. These results were driven by what DraftKings calls sportsbook-friendly outcomes in the quarter, and the company only reiterated its full-year forecast. But management did say that it now expects to see revenue near the high end of its guidance range. That was good enough to send the stock flying in after-hours trading.”

DraftKings Inc. (NASDAQ:DKNG) operates a digital platform that provides online sports betting, daily fantasy sports, iGaming, and retail sportsbooks. The company also develops gaming software and runs a digital collectibles marketplace.

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Disclosure: None. This article is originally published at Insider Monkey.