Jason Robins, CEO of DraftKings, vowed to make any seller of the company’s stock “regret that decision.”
CEO Jason Robins vowed to make any seller of the company’s stock Tuesday “regret that decision more than any other decision you’ve ever made in your life,” he said on Twitter Tuesday evening.
It is unusual for a CEO to be so outspoken about his company’s stock, but it could reflect Robins’ frustration with the weak showing of the shares.
stock (ticker: DKNG) has been hammered in the past six months as investors focus on the company’s heavy losses. Investors are concerned about the ultimate profitability of the online sports gambling industry given the intense competition. The company is one of the two industry leaders along with FanDuel, which is controlled by Europe’s
DraftKings stock fell 67 cents Tuesday, to $17.38, near its recent 52-week low. The stock is down over 35% this year and is way below a price of $64 around Labor Day. On Wednesday, the stock got a bounce, rising 2%, to $17.73.
Robins’ tweet prompted at least one response that he has been a large net seller of DraftKings stock over the past year at higher prices. On the company’s earnings conference call last month, Robins was asked why he and other DraftKings executives hadn’t bought any stock in the open market given the drop.
His response was that exercising stock options would be the “first stop” for most…