The majority of the sports world may be locked out right now, but that didn’t stop DraftKings from going public. The Daily Fantasy Sports and sports betting app company went public on the NASDAQ last Friday. It was a big chance for the company, which has seen a near complete shutdown of its operations since the coronavirus pandemic has halted professional sports across the globe. Even still, the company, which is based in Boston, saw its shares increase by 10% at the end of the day Friday, which is a nice sign of potentially good things to come. DraftKings recently finalized a merger with Diamond Eagle Acquisition Corp., which also merged with SBTech, a platform supplier for the sports gambling world. The market value of the new company is $3.3 billion.
DraftKings goes public despite phyiscal activities being shut down
