DraftKings (NASDAQ:DKNG) stock is starting to recover from its fall on Monday with two new pieces of news behind its positive movement on Tuesday.
The first bit of news moving DKNG stock today is an acquisition from the fantasy sports betting company. This has it picking up Vegas Sports Information Network, Inc. (VSiN) for an undisclosed sum.
VSiN is a sports betting content and information network. Its purpose is to supply bettors with up-to-date news, analysis, and data on sports betting in the U.S. The company has been doing so since 2017.
VSiN’s content creation includes a minimum of 18 hours’ worth of live content every day. The company offers its content through various platforms, including “Comcast Xfinity, Sling TV, fuboTV, Rogers’ Sportsnet, MSG Networks, NESN, AT&T Pittsburgh, Marquee Sports Network” and terrestrial radio stations in the U.S.
DraftKings intends to leave the current management team at VSiN in place after the acquisition. However, it will integrate the company’s employees into its own workforce. That includes its on-air talent. Both companies have offices in Las Vegas, which should help smooth out that process.
The other big news for DKNG stock today comes from Cathie Wood. The Ark Invest founder is picking up more shares of the stock with two of her ETFs. Wood has invested in DKNG stock before and is expanding her positions in them with these buys.
ARK Next Generation Internet ETF (NYSEMKT:ARKW) is the first of Wood’s ETFs to buy more DKNG stock. It bought 160,100 additional shares. That brings its total number of shares held up to 1.37 million.
The next of Cathie Wood’s ETFs acquiring DKNG stock is ARK Fintech Innovation ETF (NYSEMKT:ARKF). It grabbed 549,200 shares of the stock. That has its total number of shares reaching 797,540, reports The Motley Fool.
DKNG stock started off up 2.2% when markets opened but is slowly dipping back down toward yesterday’s close.
Of course, investors hungry for more stock movement today have plenty of other options.
Quite a few stocks are already seeing strong changes in early morning trading. That includes Color Star Technology (NASDAQ:CSCW), GameStop (NYSE:GME), and Trimble (NASDAQ:TRMB). Let’s dive into that news below.
More Tuesday Stock News
- CSCW Stock: The NFT News That Has Color Star Technology Rocketing Higher
- GME Stock: One Big GameStop Catalyst Is Coming on April 5
- ARKX ETF Space Stocks: Why TRMB, KTOS, BA, LMT Stocks Are Fueling Up Today
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
