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Money-losing stocks like DraftKings haven’t done well in 2021. It’s down more than 50% from its 2021 highs. Does that make DKNG stock a buy?  

In late 2019, Boston, Massachusetts-based DraftKings publicly announced their intentions to become a publicly-traded company. The online gambling and gaming firm had experienced several years of growth and, following a Supreme Court ruling that lifted a previous ban on sports betting, had its eyes on capitalizing its good fortune. Rather than raising capital through an initial public offering (IPO), the company opted to enter into a deal with Diamond Eagle Acquisition Corp., a shell company that existed solely for the purpose of acquisition. This type of company, commonly known as a special-p...

Betting on ‘blank check’ companies Thimble Point joins growing ranks of so-called SPACs that go public despite owning nothing By Scott Kirsner Globe Correspondent,Updated February 18, 2021, 3:38 p.m. Email to a Friend The Nasdaq exchange has a presence in New York's Times Square via its digital billboard.HIROKO MASUIKE/New York Times These are strange days for the stock market. You can take a company public without actually having a business, customers, or revenue. And if you’re Woody Benson, you can do it from the master bathroom of your home in Bonita Bay, Fla., showing slid...

February 4, 2021 A civil war was tearing the country of Sri Lanka apart. More than 40,000 civilians were killed, and many more fled the country as refugees. One of those refugees was six-year-old Chamath Palihapitiya. Palihapitiya and his family moved to Canada and tried to assimilate into their new country. It was tough for his father to find consistent work and his mother worked long shifts as a housekeeper. Money was scarce. Growing up, Palihapitiya worked part-time to help his family while attending school. He graduated high school at the age of 17 and went on to get his electrical engine...

Investing in DraftKings means you don’t have to care who wins a game. People are definitely going to bet and DKNG stock will get its cut.