DraftKings (DKNG) stock jumped 11.3% Tuesday and is up another 6% so far today after the company revealed another month of rapid growth for its emerging Predictions business. The move reflects the market’s optimism that the business could become a major new growth driver.
In a June 9 SEC filing, DraftKings reported that annualized consumer volume on its Predictions platform reached $1.3 billion in May, up 24% from April. Annualized total volume traded climbed even faster, rising 34% month over month to $3.1 billion.
