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2021-12-03

DraftKings CEO Claps Back At Famed Short Seller Jim Chanos Following Bearish Comments

Draftkings Inc has been in free fall over the last three months, trading down by nearly 50% since th

DraftKings CEO Claps Back At Famed Short Seller Jim Chanos Following Bearish Comments

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And you keep the overhead at today's level — you don't add anything.&nbsp;DraftKings would still be losing $200 million a quarter or $800 million a year,\" Chanos said.</p>\n<p><b>\"That is completely and totally insane.\"</b></p>\n<p>He noted that a lot of high-growth stocks are trading at stretched valuations, but focused on the valuation of DraftKings.</p>\n<p>\"DraftKings has a valuation right now of 30 times run-rate revenues,\" Chanos said.</p>\n<p>DraftKings CEO&nbsp;<b>Jason Robins</b>&nbsp;took to Twitter Thursday afternoon to fire back at Chanos. He raised concerns that Chanos&nbsp;may have \"forgotten how to do math\" in response to the short seller's valuation comments.</p>\n<p>DraftKings is currently trading with a&nbsp;price-to-sales ratio of 10.857, according to data from&nbsp;Benzinga Pro.</p>\n<p><b>DKNG Price Action:</b>&nbsp;DraftKings has traded as high as $74.38 and as low as $31.41&nbsp;over a 52-week period.</p>\n<p>The stock closed up 0.19% at $31.30&nbsp;Thursday.</p>","source":"lsy1606299360108","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>DraftKings CEO Claps Back At Famed Short Seller Jim Chanos Following Bearish Comments</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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And you keep the overhead at today's level — you don't add anything. DraftKings would still be losing $200 million a quarter or $800 million a year,\" Chanos said.\n\"That is completely and totally insane.\"\nHe noted that a lot of high-growth stocks are trading at stretched valuations, but focused on the valuation of DraftKings.\n\"DraftKings has a valuation right now of 30 times run-rate revenues,\" Chanos said.\nDraftKings CEO Jason Robins took to Twitter Thursday afternoon to fire back at Chanos. 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DraftKings CEO Claps Back At Famed Short Seller Jim Chanos Following Bearish Comments

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