Yahoo Finance Survey:
1 / 2
DraftKings Tumbles on Report of Unauthorized Money Withdrawals
(Bloomberg) — DraftKings Inc. tumbled on Monday after Action Network reported several instances of unauthorized withdrawals from customer sports-betting accounts.
Most Read from Bloomberg
Malaysia Latest: Parties Race to Form Government Before Deadline
Disney Shares Jump on Optimism Over Iger’s Surprise Return
Swedish Housing Is Now in the Worst Rout Since the 1990s
Malaysia Latest: Tight Election Race Points to Hung Parliament
FTX Owes Its 50 Biggest Unsecured Creditors More Than $3 Billion
Shares of the company fell as much as 11%, extending their 2022 loss to 50%. The Boston-based company came public in April of 2020 via a reverse merger with Diamond Eagle Acquisition Corp., a special purpose acquisition company, surging more than 300% that year. In 2021, the stock fell about 40%.
The Action Network report mentions three customers having unexplained withdrawals from their DraftKings user accounts. A DraftKings representative acknowledged the situation on Monday morning but could not immediately comment to Action Network. An emailed request for comment from Bloomberg News made to DraftKings’ media-relations was not immediately answered.
Most Read from Bloomberg Businessweek
Tech Layoffs Send H-1B Visa Holders Scrambling for New Jobs
A Nation in the Crosshairs of Climate Change Is Ready to Get Rich on Oil
Sears Limps Through What Could Be Its Final Holiday Season
Fatal Crashes Highlight Rising Danger of Illicit Charter Flights
FTX Was an Empty Black Box All Along
©2022 Bloomberg L.P.