Jim Cramer Says He is Not “Backing Away” From DraftKings

DraftKings Inc. (NASDAQ:DKNG) is one of the stocks Jim Cramer recently talked about. Cramer blessed adding a small position to the stock and recommended waiting for the report to decide on anything further. He said:

“I don’t want to speculate on the outcome here, but you should be aware of the flimsy legality of the prediction market situation before you panic and sell DraftKings down here. After all, there’s a reason why the online sportsbooks haven’t gotten into prediction markets. They’re probably worried that when the regulators finally come down on these platforms, they’ll come down hard. If anything, it might spur some states that are holding out to potentially legalize traditional sportsbooks so they can at least get the tax revenue. If their constituents are already gambling, I mean, really, what’s the harm?

Courtesy of Draftkings

DraftKings Inc. (NASDAQ:DKNG) provides online sports betting, fantasy sports, iGaming, and retail sportsbook services.

While we acknowledge the potential of DKNG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.

View Comments