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Moreover, DNG is currently trading lower than its 50-day and 200-day moving averages of $54.15 and $55, respectively, which indicates a downtrend. Although the expansion of its online Sportsbook in new markets could help grow its customer base and further improve fan engagement, several class-action lawsuits filed against the company could foster bearish investor sentiment.
Further, its proposed takeover of British gambling firm Entain, which already has a joint venture with MGM Resorts International (NYSE:MGM), requires MGM’s consent. The uncertainty surrounding the deal could lead to the stock experiencing more dramatic price swings in the near term.
