DKNG and the Disconnect: Consumer Confidence vs. Discretionary Spend

It's interesting watching $DKNG today, holding pretty steady around the 22.90 mark despite the broader market showing some jitters after that retail sales print. On one hand, you've got consumer confidence numbers that, while off their peaks, are still relatively robust. People feel okay about their jobs, inflation seems to be easing, albeit slowly.

But then you look at actual discretionary spending, and it's a mixed bag. Essentials are up, services are up, but are people still willing to pour money into things like online sports betting at the same clip if the economic outlook, even if not dire, suggests a bit more caution? My watchlist has been leaning towards less discretionary exposure lately, and $DKNG's relative stability today feels less like strength and more like a delayed reaction to what might be a tougher environment for that kind of spending going forward. Just something to keep an eye on.