Spruce Point estimates stock could fall another 35% to 60% Short seller says analysts are reluctant to lower earnings estimates on DraftKings DraftKings, other gaming companies forced to wait as prediction market litigation plays out DraftKings (NASDAQ: DKNG) is on pace to end an eight-day skid today, but the stock could be in for much more downside, according to a short seller. DraftKings stock highlighted at the Nasdaq market site in New York. Spruce Point says the stock could fall to $14 to $22 due to competitive threats from prediction markets. (Image: X) In a report published today, Spruce Point Management said DraftKings analysts and investors aren’t fully appreciating “the gravity” and “long-term disruptive impact” on the gaming company’s business that could be inflicted by prediction markets such as Kalshi and Polymarket. Even with some recent buy-side support, DraftKings stock shed more than a quarter of its value over the past month. Spruce Point estimates additional downside of 35% to…Read MoreCategory: Commercial GamingSource: Casino.org