Pulse of The Market: Tuesday’s 10 Worst Performers

8. DraftKings Inc. (NASDAQ:DKNG)

DraftKings snapped a two-day winning streak on Tuesday, shedding 3.87 percent to close at $38.95 apiece amid a lackluster overall market performance spilling over into the company.

DKNG has taken a proactive stance in enhancing its product offerings and services while expanding its market reach through strategic acquisitions and partnerships.

It also posted a more bullish outlook for its business, with revenue guidance adjusted higher to between $6.3 billion and $6.6 billion, from the $6.2 billion low-end targeted previously.

In the fourth quarter of the year, DKNG widened its net loss by 200 percent to $134 million from $44.6 million registered in the same period last year, as revenues dropped by 13 percent to $1.39 billion from $1.23 billion.

Despite the decline, net losses in full-year 2024 narrowed by 36.8 percent to $507 million from $802 million in 2023, as revenues grew 30 percent to $4.77 billion from $3.66 billion year-on-year.