Why DraftKings Shares Popped 10.2% on Tuesday

Why DraftKings Shares Popped 10.2% on Tuesday

Shares of sports betting company DraftKings (NASDAQ: DKNG) jumped as much as 10.2% in trading on Tuesday after some positive news came out about the stock. The biggest news driving the stock was Goldman Sachs upgrading shares to a buy rating and putting a $65 price target on shares. Analyst Stephen Grambling thinks DraftKings' market-leading position will create a network effect and give the company lots of options for growth in the future.