DKNG Trade on Nov 13, 2020 11:19 from Cklamb: Tradervue User Stock Trades.

DKNG
Intraday Fundamentals
• DraftKings Inc. Friday recorded growing revenue and user figures for the latest quarter as professional sports leagues returned during the Covid-19 pandemic, but the company posted a larger loss as expenses rose.
• The Boston -based sports-betting operator recorded a third-quarter loss of $ 347.7 million , or 98 cents a share, compared with a loss of $55.9 million , or 30 cents a share, in the same three-month period a year earlier.
• On an adjusted basis, the company’s loss was 57 cents a share. Analysts surveyed by FactSet had forecast an adjusted loss of 62 cents a share.
• Revenue was $132.8 million , up from $67 million in the year-ago quarter. Analysts were expecting revenue of $131.8 million .
• The return of major professional sports leagues following postponements during the earlier phases of the Covid-19 pandemic drummed up enthusiasm among DraftKings users, the company said. The number of monthly unique players increased by 64% to over 1 million.
• After launching mobile sports betting in Tennessee in the quarter, DraftKings now serves 10 states. Three states–Maryland , South Dakota and Louisiana –have recently chosen in favor of sports betting in election referendums, the company said.
• Sales and marketing expenses grew to $203.3 million , from $58.4 million a year earlier. General and administrative expenses climbed to $127.4 million , from $ 25.2 million in the year-ago quarter.
Technical Stats
ADV 25.6M RVOL .5+ ATR 2.83 Short 6.68% Inst Own 49%
Trading Strategy
• Long a 44 bounce
• Look a for a bigger long at 43.50 building into 42 stopping 41.40
• Play breaks of the opening range after the first 15
Reading the Tape
The tape was helping me add in the trade off 43 and the ensuing LoD set up
Trade Management
See Chart
Trade Notes

I started this feeling like this may have further down side. It was getting pretty extend and coming into the lower end of the PM range. I felt I could work this off 43 back into 43.40 on the short term.I starter with an LoD stop and hesitated on a possible add spot. I took a partial that covered most of the the planned stop on the remainder which left me in a good spot to add. I managed to get adds off new lows every time it showed som strenght after the initila flush. I would take mos of them off with about 20 cents on each barring a bit of the initial entry.