DraftKings maintained its 2026 revenue guidance on August 7, 2026, then lowered it on November 6 while citing $650 million to $700 million of Predictions investment. Levi & Korsinsky investigates.

DraftKings (NASDAQ:DKNG | DKNG Price Prediction) shares fell as low as $16.55 on November 6, 2026, down 29.6% from the $23.52 prior close.

A brutal earnings miss sent DraftKings spiraling, but most retirement portfolios will barely notice. One narrow thematic fund could take a far deeper hit, and a bet on prediction markets explains why the damage may not be over.

DraftKings shares fell as much as 29% on Friday after the company slashed its profit forecast, but it keeps investing heavily in prediction markets. Chief Executive Officer CEO Jason Robins says most of the $650 to $700 million dollars was used to acquire new customers.

Shares of the online betting platform slid more than 26% on Friday, as analysts worry about regulation and competition.

DraftKings Inc. ( DKNG ) Q3 2026 Earnings Call November 6, 2026 8:30 AM EST Company Participants Matt Rappaport Jason Robins - Co-Founder, Chairman & CEO Alan Ellingson - CFO, Principal Financial Officer & Principal Accounting Officer Conference Call Participants Julie Hoover - BofA Securities, Research Division Stephen Grambling - Morgan Stanley, Research Division David Katz - Jefferies LLC, Research Division Eric Sheridan - Goldman Sachs Group, Inc., Research Division Daniel Politzer - JPMorgan Chase & Co, Research Division Raymond Bowers - Wells Fargo Securities, LLC, Research Division Barry Jonas - Truist Securities, Inc., Research Division Robin Farley - UBS Investment Bank, Research Division Jed Kelly - Oppenheimer & Co. Inc., Research Division Brandt Montour - Barclays Bank PLC, Research Division Jordan Bender - Citizens JMP Securities, LLC, Research Division William Lampen - BTIG, LLC, Research Division Benjamin Chaiken - Mizuho Securities USA LLC, Research Division James Hardiman - Citigroup Inc., Research Division Presentation Operator Hello, everyone. Thank you for joining us, and welcome to the DraftKings Third Quarter 2026 Earnings Call.

Three stocks are seeing unusual options activity following their quarterly earnings reports: DraftKings Inc (NASDAQ:DKNG), TransMedics Group Inc (NASDAQ:TMDX), and Omada Health Inc (NASDAQ:OMDA).

DraftKings NASDAQ: DKNG cut its 2026 revenue and adjusted earnings outlook after stepping up investment in its Predictions offering, even as third-quarter revenue rose 16% and customer activity increased.

DraftKings (DKNG) shares opened sharply lower on Friday after the sports betting giant reported its fiscal Q3 earnings that missed Wall Street estimates and lowered its full-year guidance as well. Revenue came in at $1.329 billion versus expectations of about $1.39 billion, while adjusted losses were also deeper than analysts had forecast.

The cost of competing in prediction markets is hitting DraftKings (NASDAQ:DKNG | DKNG Price Prediction) hard after its third-quarter report and first 2027 forecast both fell short of Wall Street's hopes. DraftKings stock is trading at $17.13, down 27%.