Fall is big for sports. Major League Baseball (MLB) is right into its big championship series, and while demographics are aging for the sport, it has an active and wealthier base that’s really, really engaged right now in each and every game.
Then, the National Collegiate Athletics Association (NCAA) has college football all keyed up this season with games back to normal-ish and fans around the nation and well beyond hyped up over each and every play.
And of course, the National Football League (NFL) is in a league of its own. It has a global brand of sports and fans watch and engage with teams each and every week.
It won’t be long before hockey, basketball and other sports get fully fired up, and then there’s Premiere League English Football (soccer) that all bring fans right to their feet each week.
What all of this has to do with trading is that each one of these sports can be bet on – and more and more folks are doing that right now with more at the ready to do so each and every week.
The Online Sports Bet & Trade to Make
Online sports betting is a huge market that’s scoring big for the leading companies in this market. Gone are the days of tracking down local bookies or having to travel to visit physical sports book venues. Betting on favorite teams and players is just a click away.
The success of online sports betting and gaming shows up in how well the business is doing and in turn driving more bets on the leading stocks in this industry. And as we showed you last week, this market continues to be a big winning bet for traders.
A leading newer index of online better enterprises from indeX shows how online betting – especially from sports wagers – is soaring in business. The index has gained 304.70% from March 2020 to now.
And thanks to my colleague and chief technician here at Traders Agency, Josh Martinez, we have a sports trade to make an educated bet on now. This is the sort of trade that Josh brings each and every week inside Josh’s Top 5.
DraftKings (DKNG) is a leading online sports betting and entertainment company based in Boston that continues to book wins in customers and for its shareholders.
Sales growth has been a big score for the company with gains running strongly from last year by 90.02%, if only from a lower base of business.
And this has continued to accelerate through the latest quarter of this year by a whopping 319.57%. The company continues to win regulatory concessions in more US states as well as international venues that empowers further sales gains in the making.
It is currently in a series of discussions over co-ops and deals to expand its operations both in its core business as well as other betting and entertainment markets. And meanwhile, there are other betting companies that would like to buy it out at the same time!
The stock is also a big bet with major fund managers and actively managed ETFs – bringing more active buying of the stock.
The company continues to be in growth mode, but continued heavy development expenses and investments in its capabilities as well as in marketing is resulting in continued near-term losses.
DraftKings Price -- Source: Dow Jones
The stock took a pause that sets up the current trade opportunity. But the bet continues to be that this is one of the best sports betting companies in the business and for us in the stock market right now.
Josh expects the stock to trade to the researched target price of $52.63. From the current price of around $48.42, it represents a potential cash gain on the shares of 8.49% for a short-term trade.
As always, I want to hear from you as an Insider here at Traders Agency.
This includes your thoughts on our work here and what we should be covering and how to improve our services to you.
I can be reached directly at firstname.lastname@example.org.
All my best,
P.S. Josh Martinez works tirelessly to find the top stocks from the top sectors for the best trades right now. This includes the big gaming and sports betting market that is on a roll right now.
These are the sorts of stocks that he presents each and every week inside of his research service, Josh’s Top 5.
To see how he selects the top stocks each week, we have a special session set up to watch on demand right now, which you can access for free by clicking here.