DraftKings is trading 4.13% down at $24.73 after Argus downgraded the shares from Buy to Hold, citing elevated customer-acquisition costs, rising state gaming taxes, and prediction-market competition.
- On August 25, 2026, DraftKings closed a $700 million term loan and $750 million revolving facility, which may reinforce investor concerns about leverage despite improving liquidity.
- Broader markets are nearly flat, so company-specific pressure appears dominant.