Todd Jordan’s best stock idea just gets keeps getting better.
Since Hedgeye's veteran Gaming, Lodging, and Leisure (GLL) analyst flipped from bearish to bullish on DraftKings (DKNG) on September 29, 2022, the stock price has more than doubled. It’s up +24% this week alone.
“It's proving to be a really good business, really good company gaining share in an industry we really like,” Jordan said on The Call @ Hedgeye this morning. “It's been our consistent theme on this one. It's just that it gets better and better with each quarter.”
Jordan's successful DKNG call demonstrates the value of data-driven decision-making over narratives and emotional biases. Remember, they’re just tickers.
“Usually, you don’t get too excited about an industry where you’re not going to see profits in a while,” Jordan added. “But once we saw the outlook – and you can actually identify the timing of that inflection point to profitability and what it would mean for the stock – it became a key stock for us, and it’s been our top pick for most of this year.”
Click above for the full clip of Jordan breaking down the call on DKNG.