Why DraftKings' Stock Jumped 6.6% on Wednesday

Why DraftKings' Stock Jumped 6.6% on Wednesday

Shares of sports betting company DraftKings (NASDAQ: DKNG) were up as much as 6.7% in trading Wednesday after announcing it's the official partner of the upcoming Mike Tyson versus Roy Jones Jr. fight. The fight on Nov. 28, 2020 is the latest in a string of key partnerships for DraftKings as the company attempts to build scale in its sports-betting business. This one partnership is a one-time event.