Why DraftKings Stocks Are Trading Higher Today?

DraftKings Inc (NASDAQ:DKNG) shares trade higher Wednesday after founder and CEO of Ark Invest Cathie Wood bought over $60 million worth of stock.

Wood reported that yesterday she bought shares of DraftKings for several Ark exchange-traded funds:

  • 742,840 shares for ARK Innovation ETF (ARC: ARKK)

  • 202,723 shares for ARK Next Generation Internet ETF (ARC: ARKW)

  • 127,608 shares for ARK Fintech Innovation ETF (ARC: ARKF)

DraftKings continues to climb today after the company announced yesterday that it agreed to a multi-year deal with Simplebet to expand its sportsbook in-game offering.

DraftKings is a digital sports entertainment and gaming company.

DKNG price action: DraftKings has traded as high as $74.38 and as low as $34.28 in a 52-week period.

At its last check on Wednesday, the stock was up 5.28% to $59.45.

photo by World Poker Tour from flickr.

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