Why DraftKings (NASDAQ: DKNG) Stock Is Trading Higher Today?

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DraftKings Inc. (NASDAQ: DKNG), a sports betting company has revealed that the first week of the 2020 NFL season was the most exciting week for the company since 2015. The company has welcomed new customers’ sign up in the first week. This is not the only news of the company which has excited its stocks but also the company has announced a betting deal with NFL’s New York Giants.

As per the multi-year agreement, DraftKings became the Official Sports Betting, iGaming, and Daily Fantasy operator of the team. Football is considered to be the most popular game on the platform of DraftKings and after this partnership company aimed to further enhance its customer engagement and customer experience throughout the NFL season.

One more exciting news for the fans is that after the partnership is that they will provide a Free-to-Play Pick ‘Em game that will be available to Giants fans on a weekly basis. The New York Giants and the DraftKings both have worked for a number of years.

Shares of DraftKings (NASDAQ: DKNG) were trading up 4.08% at $53.11 at the time of writing on Thursday. Its share price went from a low point around $9.84 to briefly over $53.25 in the past 52 weeks. It has moved up 439.74% from its 52-weeks low and moved down -0.27% from its 52-weeks high. Looking at its profitability, its return on assets and equity is 0.60%, and 0.60%, respectively. DKNG market cap has remained high, hitting $19.38 billion at the time of writing.

DraftKings has revealed that the New York Giants have ranked in the top 40 most highly bet franchises among 700 sports teams available on the platform of DraftKings. DraftKings is considered to be the recognized sponsor and advertiser across all-team controlled media including radio, television, and digital and social media. It is the leader in sports betting and daily fantasy sports.

Previously, it has disclosed its partnership with basketball legend Michael Jordan and got its first Major League Baseball deal with the Chicago Cubs. It has signed a deal with ESPN to become a co-exclusive sportsbook link-out provider and exclusive daily fantasy sports provider of the media giant.

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