Why DraftKing's Stock Is Trading Higher Today

DraftKings Inc. DKNG shares are trading higher after the company announced plans to launch DraftKings Marketplace that offers curated NFT drops and supports secondary-market transactions.

Once launched, millions of customers will have the ability to seamlessly buy, sell and trade digital collectibles across sports, entertainment and culture using their existing DraftKings account, said in the company's press release.

DraftKings also announced it will be the exclusive distributor of NFT content from NFT platform Autograph, which leverages official licensing of prominent athletes and celebrities to provide a wide array of digital collectibles.

DraftKings Inc. operates as a digital sports entertainment and gaming company in the United States. It operates through two segments, Business-to-Consumer and Business-to-Business.

DraftKing's stock was trading about 2.8% higher at $47.12 per share on Wednesday at the tim eof publication. The stock has a 52-week high of $74.38 and a 52-week low of $30.51.