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DraftKings: Misunderstood Market Sentiment Offers Investment Opportunity

DraftKings (DKNG) is currently undervalued due to misleading headlines related to Macau casino closures and prediction market activities, neither of which directly impact its operations. The company exhibits strong fundamentals, including growing parlay bet volumes, robust revenue growth, and a solid cash position. Compared to FanDuel, DKNG trades at a discount despite similar market dominance and monetization potential from parlays. I recommend a BUY rating for DKNG at $30-$33, with a potential upside to $50, provided regulatory risks remain manageable.

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