I hear ya! And MAYBE that 'public pressure' shames them into corrective action, BUT if it doesn't WE GET HIT HARDER than most of them do! Yes, I'm speaking SELFISHLY - about SELF INTEREST, but it's NOT LIKE they don't benefit too!
DKNG has SO MUCH CASH BURN & without MLB its ONLY going to FORCE dilution onto the market; with MORE FEROCITY & PAIN than I'd PERSONALLY like to tolerate.
With Corona, riots & whatnot baseball COULD signal a BACK-TO-NORMALCY salve like NO OTHER... "The National Pastime" & all that jazz, ...but if these shenanigans continue DKNG will take a BLOW! And by BLOW, it's often the SHAREHOLDERS who get hosed if DK starts tapping these capital markets because ANOTHER HUGE DAILY profit-stream is absent from their business model...
Like the STRAW that broke the camel's.... I'd prefer NOT to be in that situation with baseball sidelined. It could be THAT LAST thing (in this odd year) that forces the stock BACKWARDS instead of FULL STEAM ahead. That's what I'm worried about. Always HAVE BEEN here...
Bought & own it ANYWAYS, but I don't like the UNKNOWN & the DOWNSIDE RISK! It ALWAYS keeps me UP AT NIGHT!! And, I don't WANT to sell, & I don't WANT to give up my HUGE GREEN PROFITS! And I DO NOT want the stock to be DILUTED so DKNG can FUND ITS' GROWTH on the BACKS of SHAREHOLDERS because they're missing a HUGE DAILY REVENUE STREAM with the cancellation of the baseball season. We're ALREADY missing out on AT LEAST a THIRD of the SEASON by MOST COUNTS. That's 50 DAILY profitable EVENTS... & HUGE revenues... & the COSTS DKNG has are VERY HIGH, FIXED & GROWING: Especially with the announced rolling out the streaming costs... I DO NOT want (again, SELFISHLY...I admit) to LOSE OUT on ANY MORE REVENUES. I don't want the stock PRESSURED like that...
Anyways, I guess we'll just have to wait & see. ITM I can't help but think about taking some profits OFF the table after being up nearly 300%. I was hoping I could avoid capital gains taxes by holding this AT LEAST one year but if baseball players aren't going to GET BACK TO WORK then... I think the TAXES I'd have to PAY will be BETTER THAN the DILUTION, price DEPRECIATION & downside risk! So, ... anyway, I'm hoping they take the field here & the WHOLE SEASON isn't lost in this dreadfully extended negotiation. Plus, I could be wrong but I also think insider warrant holders WHO HAVE INSIDER INFO & are priced-in MUCH LOWER than most are likely to take their profits soon too. After certs clear, etc., so I'm NOT a fan of what's going on & I do NOT like the uncertainty. Get it together MLB!
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