Why DraftKings Stock Is Trading Higher Today

DraftKings Inc DKNG shares are trading higher on Tuesday, after Bloomberg reported "George Soros wagers on sports betting with DraftKings stake."

According to the report, Soros has a $66 million stake in DraftKings. Quantum Partners is an investment vehicle managed by Soros Fund Management, which holds 2.7 million DraftKings Class A shares.

DraftKings Inc is a digital sports entertainment and gaming company. The firm provides users with daily fantasy sports, sports betting, and iGaming opportunities.

Draftkings shares were trading up 5.2% at $25.75 at time of publication on Tuesday. The stock has a 52-week high of $26.39 and a 52-week low of $9.76.

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