Disappointing legislation to weigh on DraftKings shares, says Roth MKM

Roth MKM keeps a Sell rating and $15 price target on DraftKings ahead of its Q1 results. While earnings announcements have been "high volatility events" lately, this quarter will likely see a more muted response, the analyst tells investors in a research note. Roth MKM adds that entering the seasonally slow months of the year, the biggest driver will be new state launches, and the firm believes that disappointing legislation may weigh on DraftKings shares ahead of revenue slowing in 2024.