Sports-betting firm DraftKings (NASDAQ:DKNG) has become something of a celebrity in the world of equities. Check any popular financial message board or chat room and you’re likely to find plenty of buzz surrounding DKNG stock.
Speaking of celebrities, there are few catalysts in the business world as exciting as a high-profile endorsement. It matters when a famous individual takes a position in a business because that celebrity will hopefully use their influence to promote the company’s interests.
And that in turn should provide value to investors in the company. At least, that’s how it’s supposed to work. Now DraftKings is putting that theory into practice with a celebrity endorsement from a sports hero with massive clout.
Besides, this particular celebrity is known for hard work, dedication and business savvy. There’s no guarantee that any of this will translate into big-time revenues of course. Nevertheless, it’s…