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Friday, 08/28/2020 12:01:40 PM

Friday, August 28, 2020 12:01:40 PM

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DraftKings — Shares of DraftKings fell as much as 5% in midday trading after Morgan Stanley downgraded the gambling company to equal weight from overweight. The brokerage said that while the stock’s 260% increase this year is valid, it’s concerned that the launch of Barstool’s sports app could steal market share. Uncertainty around the upcoming NFL season, on top of already-canceled athletic seasons, could also act as a headwind, Morgan Stanley said.
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