DraftKings Shares Tank After Short Seller Report and Oracle Shares Fall Before Earnings Beat 📉

Table of Contents

DraftKings Shares Tank After Short Seller Report and Oracle Shares Fall Before Earnings Beat

DraftKings

On Tuesday, shares of DraftKings fell, closing down 4.17%.

Shares of the American fantasy sports contest and sports betting operator fell after Hindenburg Research released a report, calling the company “a $21 billion SPAC betting it can hide its black-market operations.”

Hindenburg Research issued a report expressing concerns about DraftKings’ merger with SBTech, a Bulgaria-based gaming technology firm reportedly involved in black market activities, money laundering, and organized crime. According to Hindenburg Research, 50% of SBTech’s income originates from areas where gambling is prohibited.

Shares of DraftKings have fallen over 25% in the past three months.

Oracle

On Tuesday, shares of Oracle fell, closing down 1.19%.

Shares of the American computer software company fell before the company reported an earnings beat after the closing bell.

The company reported earnings of $4.03 billion, or $1.37 a share. Analysts expected earnings of just $1.31 a share. Total quarterly revenue was $11.2 billion, up 8% year over year. Revenues from cloud services and license support increased by 8% to $7.4 billion. Revenues from cloud and on-premise licenses increased by 9% to $2.1 billion.

Shares of Oracle are up over 20% in the past three months.

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

Share:
More Posts
From One Rock to Another 🚀

NASA’s OSIRIS-REx mission, after a seven-year journey, successfully captured and delivered asteroid samples.

Too Much Debt  💳

Rising credit card debt and delinquencies have created losses for credit card companies.

Get your daily Invstr Crunch

Get the market news and updates you need, delivered to your inbox or available on our daily podcast.

Risk Disclosure:

Invstr is not a bank and banking services are provided by Vast Bank, N.A.

Brokerage and Banking services are currently only available to U.S. residents.

Invstr app and web services are provided by Invstr Ltd. Advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC) details of which can be obtained here. Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value.

Investing involves risk and can lead to losses. Past performance does not guarantee future results.

Invstr app and web services are provided by Invstr Ltd. Invstr+ advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC). Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value. Vast Bank N.A. a nationally chartered bank and member of the FDIC, provides the banking products, including the products and services related to digital asset accounts. As with any asset, the value of Digital assets can go up or down and there can be a substantial risk that you lose money buying or holding digital assets. You should carefully consider whether trading or holding Digital assets is suitable for you in light of your financial condition. Your digital account does not support wallet to wallet transferring of your digital assets (i.e. cryptocurrencies) outside the platform. Any Digital Assets in your digital asset account are not insured by any government entities, including but not limited to FDIC or SIPC. The Invstr Visa® Debit Card is issued by Vast Bank, N.A. pursuant to a license from Visa U.S.A Inc and may be used everywhere Visa debit cards are accepted. Invstr Ltd, Invstr Financial LLC and Invstr Securities Ltd are subsidiaries of Marketspringpad Holdings (collectively “Invstr”) and Invstr is solely responsible for the application services and website content.

Watchlists provided when users first access the service are not a recommendation to invest. Instead they are provided to help users better navigate the service. Users are free to edit and create their own watchlists. From time to time, Invstr will suggest instruments solely based on an individual’s interest and the interest levels of the Invstr community. The statistical and portfolio builder models generated by Invstr do not reflect actual investment results and are not guarantees of future results. Comments provided by Invstr leaders, influencers or members of the Invstr Community are not recommendations and should not be construed as such. Invstr does not endorse the content or the positions posted by them. Their investment approach, and that of the models provided by Invstr, may be different from yours and may not be appropriate for you.