DraftKings tumbles after research firm alleges black market ties
CNN
Shares of sports betting giant DraftKings tumbled in early trading Tuesday after a prominent research firm accused the company of hiding alleged ties to illegal gaming operations.
Hindenburg Research claimed in a lengthy report that SBTech, a firm that DraftKings merged with when it went public last year, "brings exposure to extensive dealings in black-market gaming, money laundering and organized crime." DraftKings fell 4% in late-morning trading after tumbling nearly 9% earlier in the morning.
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