DraftKings Inc. is trading 4.5% up at $28.83, continuing a rally that began Tuesday after the company revealed strong growth in its 'Predictions' trading market.
- In a Form 8-K filed on June 9, DraftKings disclosed its Predictions platform saw annualized total volume traded surge 34% month-over-month to $3.1 billion in May.
- Annualized consumer volume on the platform also grew 24% month-over-month to $1.3 billion.
- The positive data, released just ahead of the FIFA World Cup, prompted an 11% stock surge on Tuesday and has been met with supportive analyst commentary.