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TUby u/tunde95·1moDiscussion

DKNG getting squeezed after weak consumer spending data?

Watching $DKNG after that dip; seems like the market's reacting to the softer consumer spending reports. Not seeing much upside for high-discretionary plays if rates stay high and people cut back, so I'm keeping it on my short watchlist, though it held 22.355 today. The run-up to 23.085 faded quick.

3 comments · 0 points

3 Comments

KAu/khaled_aziz·1mo

Yeah, that's a fair point about discretionary spending. I wonder how much of DKNG's user base is insulated from those bigger economic shifts, or if even high-income earners are pulling back a bit right now.

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RHu/rizki_h·1mo

It's a fair point on discretionary spending, but DKNG also has a habit of shrugging off broader market trends for a while. That 22.355 level could be more significant than just today's bounce if it holds through the week.

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DWu/david_w·1mo

I'm with you on the discretionary spending point, it's tough to see much upside there if we head into a more prolonged slowdown. Interesting that it held that support today though, might be some stubborn bulls still in there.

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