DraftKings, an online sports betting company, faced controversy when it offered a 9/11-themed bet parlay. The parlay would have paid out if three New York teams – the Mets, Jets, and Yankees – won their games on the 22nd anniversary of the September 11 terror attacks. However, DraftKings quickly pulled the parlay and issued an apology on Twitter, recognizing the significance of the day and the impact on the families affected by the attacks. Despite the controversy, DraftKings remains one of Ark Invest’s largest holdings. Ark Invest’s flagship Innovation ETF sold 469,217 shares of DraftKings, valued at $14.92 million. However, Ark Invest still holds 10.5 million shares in the company, making up 4.29% of the fund.
Alongside the sale of DraftKings shares, Ark Invest purchased shares of other companies. They bought 258,811 shares of Roblox, worth around $7.4 million, and 406,432 shares of Robinhood Markets, valued at around $4.5 million. DraftKings reported strong second-quarter earnings with revenue of $875 million, an 88% increase compared to the previous year. The company raised its fiscal year 2023 guidance, projecting a range of $3.46 to $3.54 billion in revenue. Despite the controversy surrounding the 9/11-themed bet parlay, DraftKings continues to experience growth, with its stock up approximately 180% for the year.
Hashtags: #DraftKings #sportsbetting #controversy #ArkInvest
Keywords: DraftKings, sports betting company, 9/11-themed bet parlay, controversy, Ark Invest, Innovation ETF, shares, revenue, growth
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