$DKNG At this price they are 8x 2022 earnings. That isn’t expensive for a company with growth prospects like DraftKings. I think we are close to a bottom
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@nyjmitch Fortunes are made putting money to work in those downdrafts. Everybody at work was crying “I’m losing money!” I told them that they needed to find a way to get more money invested. They looked at me like I was from outer space. One person announced they pulled their money out of the market and the rest of the lemmings followed. To my knowledge none of them ever got back in.
@BasicCharts that’s what happens. Most people buy a stock market that is high and sell off when it’s low. Rinse and repeat. They get discouraged and rage buy at the end of cycles.
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  • $DKNG At this price they are 8x 2022 earnings. That isn’t expensive for a company with growth prospects like DraftKings. I think we are close to a bottom
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  • @nyjmitch yea, but DKNG burns so much cash to generate those revs...that's why the bottom lines go nowhere. growing revenue is nice, but at some point the bottom line numbers matter.
  • @nyjmitch NJ takes 13% tho.....look at PA. Companies can barely profit there. Now NY wants 51%. And supposedly the Seminoles in FL want 40% cuts. NJ may not be the baseline case, but more like PA/NY etc. if states start getting greedy. CA may end up being just as bad as NY if they ever come around.
  • @nyjmitch My guess is a lot of people on here have a fraction of that. You must have started around the time the market was rolling over leading into the financial crisis?
  • @nyjmitch Fortunes are made putting money to work in those downdrafts. Everybody at work was crying “I’m losing money!” I told them that they needed to find a way to get more money invested. They looked at me like I was from outer space. One person announced they pulled their money out of the market and the rest of the lemmings followed. To my knowledge none of them ever got back in.
  • @nyjmitch Back when BA first broke above $400 on its way to the all-time high, you had the usual chorus of “it’s going to $500 by the end of the week and $600 by the end of the year”. I was writing calls at the time. Just wished I would’ve bought puts before the wheels fell off.
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