The stock is down in part because growth stocks are falling as interest rates rise, but investors also haven't been pleased with DraftKings' very aggressive acquisition strategy. An offer to Entain (LSE: ENT) for $22 billion, more than DraftKings' valuation today, has caused the latest consternation for investors.
Full Answer
What is Kensington Capital Acquisition Corp. II's current short interest?
Short interest is the volume of Kensington Capital Acquisition Corp. II shares that have been sold short but have not yet been closed out or covered. As of September 15th, traders have sold 140,600 shares of KCAC short. 0.61% of Kensington Capital Acquisition Corp. II's shares are currently sold short.
What is a good short interest ratio for Kensington Capital Acquisition Corp. II?
The short interest ratio, also known as the "days to cover ratio", is calculated by dividing the number of shares of a stock sold short divided by its average trading volume. A short interest ratio ranging between 1 and 4 generally indicates strong positive sentiment about a stock and a lack of short sellers.
Which institutional investors are shorting Kensington Capital Acquisition Corp. II?
As of the most recent reporting period, the following institutional investors, funds, and major shareholders have reported short positions of Kensington Capital Acquisition Corp. II: Susquehanna International Group LLP, and Cutler Group LP. These positions are disclosed in Form 13F filings with the Securities and Exchange Commission.
What is a good short interest percentage for Kensington Capital Acquisition Corp. II?
Companies that have a short interest as a percentage of float below 10% indicates positive investor sentiment and few short sellers. Stocks with a short interest percentage above 10% is considered high, suggesting some investors are pessimistic about the stock.
Is Kensington Capital Acquisition Corp. II's short interest increasing or decreasing?
Kensington Capital Acquisition Corp. II saw a drop in short interest in the month of September. As of September 15th, there was short interest totaling 140,600 shares, a drop of 66.0% from the previous total of 413,500 shares. Changes in short volume can be used to identify positive and negative investor sentiment.
What is Kensington Capital Acquisition Corp. II's float size?
Kensington Capital Acquisition Corp. II currently has issued a total of 28,750,000 shares. Some of Kensington Capital Acquisition Corp. II's outstanding shares are available for trading, while others are subject to various restrictions.
How does Kensington Capital Acquisition Corp. II's short interest compare to its competitors?
0.61% of Kensington Capital Acquisition Corp. II's shares are currently sold short. Here is how the short interest of companies in the industry of "holding & other investment offices" compare to Kensington Capital Acquisition Corp. II: Brooge Energy Limited (0.29%), CONX Corp. (0.14%), SilverBox Engaged Merger Corp I (0.02%), Pontem Co.
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Kensington Capital Acquisition Corp. (KCAC) Company Bio
Kensington Capital Acquisition Corp. is a blank check company that focuses on effecting merger, capital stock exchange, asset acquisition, stock purchase, and reorganization. The company was founded in 2020 and is based in Westbury, New York.
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EV charging tech provider Wallbox goes public by merging with SPAC Kensington Capital Acquisition
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What happens if you lose confidence in Draftkings?
If investors lose confidence in DraftKings and the stock falls, it can be a downward spiral. Suddenly the cash burn is more important, and management may pull back on growth spending, which leads to slower revenue growth, which hurts confidence even more.
What is Draftkings trying to do?
On the acquisition side, DraftKings is trying to scoop up competitors to build a large market share, hoping that will lead to economies of scale long-term. If it can't use stock to acquire companies, scale will be harder to build.
Why is Draftkings important?
Investor confidence in a company like DraftKings is key for the company long-term, because it allows management to grow and acquire competitors without having to worry about being profitable or cash-flow positive. The stock can be a piggy bank to be used when needed.
Is Draftkings cash running out?
DraftKings had $1.7 billion of net cash on the balance sheet at the end of the second quarter, so cash isn't running out soon -- but at the current burn rate, the company only has a few years of cash to fund its growth.
Does Draftkings burn cash?
As DraftKings burns cash, a lower stock price could also lead to dilution if management needs to raise cash from shareholders.
KCAC-U Target Price
KCAC-U price target in 14 days: 33.346 USD* upside and 23.911 USD* downside. (Highest and lowest possible predicted price in a 14 day period)
KCAC-U ( KCAC-U ) Stock Market info
Recommendations: Buy or sell KCAC-U stock? Wall Street Stock Market & Finance report, prediction for the future: You'll find the KCAC-U share forecasts, stock quote and buy / sell signals below. According to present data KCAC-U's KCAC-U shares and potentially its market environment have been in a bullish cycle in the last 12 months (if exists).
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A Quick Valuation of Kensington Capital Stock
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