Jim Cramer on DraftKings: "It's So Low Now, Though, That It Reflects No Good and a Whole Lot of Bad"

DraftKings Inc. (NASDAQ:DKNG) is one of the stocks in focus on Jim Cramer’s game plan. Cramer noted that the stock is “so low now,” as he stated:

Then there are two contrasting storied stocks that make terrific bookends for this segment, DraftKings and Agnico Eagle. DraftKings is stymied by a lack of consolidation in an industry that needs California, Florida, and Texas to change their minds and allow gambling. I’m beginning to believe that unless they find new people who can help them open accounts, the stock might falter. It’s so low now, though, that it reflects no good and a whole lot of bad.

DraftKings Inc. (NASDAQ:DKNG) is a digital sports entertainment and gaming company that provides online sports betting, daily fantasy sports, and iGaming products such as blackjack, roulette, and slots. A caller asked about the stock during the January 28 episode, and Cramer responded:

Okay, I like DraftKings, but I’ve decided, you know what, without Florida, without Texas, without California gambling, it’s just going to be like, I don’t know, it’s in the wilderness. I don’t know. I want it out of the wilderness. It’s not an expensive stock. Or maybe we need a lot of consolidation. That could do it.

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