DraftKings and DoorDash break lower after Jim Chanos discloses short positions

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• DraftKings (DKNG -0.4%) erases an earlier gain after Jim Chanos makes the claim on CNBC that the company's business model is flawed and trades with an excessive valuation.
• DoorDash (DASH +1.3%) is getting the same business from Chanos with valuation said to be too high. Shares of DASH turned lower after the CNBC appearance.
• Chanos is short on both DKNG and DASH through the Kynikos Associates trading vehicle.
• Compare valuation marks on DraftKings and DoorDash.

Comments

[ATinvestor]

Heavy recent insider buying says this clown is wrong about DraftKings.

[microhoo]

By the time you see this news, Jim has already covered.

[Mike Wisdom is Searching for Value]

@microhoo he still holds both shorts. Monster right. One of the best short sellers in the world & people are calling him clown, in the business for 40 years & a billionaire & people say clown. He is the man

[Dr Hoo]

At this price, $DKNG could be bought by $DIS or one of the legacy brick and mortar casinos.

[carlomiami]

He is always full of it and the idiots on CNBC give him microphone just to have ratings , he is always wrong / BUY DRAFTKINGS

[Stratocaster17]

@carlomiami sure we'll take your word for it instead of Jim Chanos

[rtj321]

Down 52% in less than 3 months. Wonder when he shorted

[WWG1_WGA_Q]

Accumulating shrs on any significant drops in pps of $DKNG.
I'm a long-term holder for the future rev/growth rewards yet to be realized.

Cheers.

[followtheblind]

@SuperNova_Vaxxed Agreed. Sports betting is barely even in its infancy. It's practically newborn. Imagine how this industry will be 20 or 30 years from now. It's going to be monstrous.

[User 51008808]

@followtheblind sports betting has been going on for generations

[Stratocaster17]

@followtheblind and it's never been a very profitable business plus extremely hard and competetive

[ProfessionalBagHolder]

Maybe the same thing will happen to DKNG that happened to his other short. He shorted TSLA at $100...LOL!

[Dr Hoo]

@CoronaFluInvestor Exactly!!! Hope his short position burns his britches!!

[Mike Wisdom is Searching for Value]

@CoronaFluInvestor dkng didnt have a musk.

[Diesel333]

The model that pretty much every major internet company used to now own their markets. Yeah def flawed

[16253672]

Same guy who said in 2018 -

Jim Chanos: We think Tesla is worth zero

[vman1]

@16253672 will never ever make up for that miss no matter what

[Stratocaster17]

@16253672 he might still be right :)