Despite The Recent Spike, DraftKings Stock Still Has Room to Run

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DraftKings ($DKNG) has been a battleground stock since it went public nearly five years ago. The company's overly aggressive and risky growth strategies attracted naysayers who doubted the sustainability of its money-losing practices. However, fast forward to today, and DraftKings has proven the naysayers wrong delivering rapid growth and, most importantly, increasing profitability.

Last week, DraftKings reported Q4 earnings results that pleased investors, sending its shares sharply higher.

Although the company slightly missed Q4 revenue estimates due to unfavorable sports outcomes, it reported earnings per share that were 3.5x higher than estimates and set ambitious growth and profitability goals for the current fiscal years, impressing Wall Street. Let's take a deeper look.

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