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Americans love to bet on sports, we said just a few weeks ago.
Look at the Super Bowl, for example.
According to the American Gaming Association, $7.61 billion was bet on the Super Bowl in 2021. In 2022, the AGA estimated that more than $8 billion would be wagered. In 2023, $16 billion was wagered. In 2024, about $23.1 billion.
With the 2025 Super Bowl nearing, we expect to see another round of big numbers.
Weeks after noting that, we’re again seeing big opportunity in sports betting stocks, such as:
DraftKings (DKNG)
DraftKings stock saw a bump ahead of the Super Bowl over the last few years. In 2024, DKNG ran from a January low of about $32 to a high of $45.62 after the game. We expect to see more of the same ahead of the 2025 game, too.
At the moment, oversold shares of DKNG are just starting to pivot higher from support at $36. Last trading at $39.82, we’d like to see DKNG retest $45 a share heading into the big game. Helping, analysts at Morgan Stanley just raised their price targets on DKNG by $2 a share.
Every business revolves around the principle of buying at a low price and reselling at a higher price for a profit. From a corner shop to national chains of supermarkets, all buy in at a low price and then hope to sell at a higher price for a profit.
Going Long
If you are LONG it means that you have bought anticipating higher prices. You are said to be 'Long the market' if you BUY shares, futures, bonds or options. Remember it this way. Just as you would buy an ordinary stock market share in the expectation of prices rising, it's the same with Futures contracts. Let's have a look at an example:
SILVER trades on the Commodity Metal Exchange in New York in contract sizes of 5,000 troy ounces. If July (delivery) silver is currently trading at $5.00 an ounce, this means one contract of July silver is worth $25,000.
Elite Wall Street trader, Joe Duffy, is allowing a limited group of future-elite investors into his masterful daily trades at thousands of dollars less than what others charge.
When you join today for $1, the first month you'll receive:
Joe Duffy’s daily video newsletter with updates on what's happening in the markets that very day. Rather than watch talking heads for hours on cable, I'll get you up to speed in minutes.
You get weekend updates where I delve more into 'bigger picture' looks at the marketplace. Videos are illustrative, instructive, concise, and un-hedged. No double talk here.
The first profit opportunity we will review is in WRBY, or Warby Parker is an online and brick-and-mortar retail supplier of affordably priced prescription glasses, sunglasses, and eyeglass accessories.
If the monthly chart shows that WRBY has been above the 10- period or 10- month simple moving average since May. At that time, the WRBY stock price was 16.33. The current price is 26.22. The next targets are 30 and 32.5.
The daily chart shows that WRBY has been trading inside the Upper Keltner Channel or higher since October. That’s an excellent sign of strength.
We recommend buying WRBY stock at the current price level.
PLEASE READ: Auto-trading, or any broker or advisor-directed type of trading, is not supported or endorsed by TradeWins. For additional information on auto-trading, you may visit the SEC’s website: All About Auto-Trading, TradeWins does not recommend or refer subscribers to broker-dealers. You should perform your own due diligence with respect to satisfactory broker-dealers and whether to open a brokerage account. You should always consult with your own professional advisers regarding equities and options on equities trading.
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