Summary List Placement
DraftKings surged as much as 10% on Wednesday following the announcement of an exclusive partnership with the New York Giants.
The stock also moved as the Big 10 Conference announced plans to commence its previously postponed football season in October.
The jump notched another record intraday high for the sports betting company, which has gained roughly 400% since the start of 2020.
Watch DraftKings trade live here.
DraftKings surged as much as 10% on Wednesday after signing an exclusive partnership with the New York Giants. The gain also came amid news that the Big 10 Conference restored plans to start its football season, which will begin in October.
The jump notched another record intraday high for the sports betting company, which is up roughly 400% since the start of 2020.
DraftKings will be the Giants’ official sports betting partner and Daily Fantasy operator, with access to the team’s trademarks, logo, and exclusive digital gaming rights.
The Big Ten Conference reversed its decision on Wednesday to postpone the college sports season due to COVID-19. The conference said football will start the weekend of Oct. 23 and 24.
DraftKings’ competitor Penn National Gaming increased 4% at intraday highs on Wednesday following the Big 10 announcement.
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Source:: Business Insider