Quarterly earnings writeup for DraftKings (DKNG)
Paid subscribers to Jonah’s Growth Stock Deep Dives receive 2-3 deep dives per month (8,000+ words), 2-3 mini deep dives per month (2,000+ words) and quarterly earnings commentary (on most of my portfolio companies) plus access to my investment portfolio (up +75% YTD in 2024, up +134.7% in 2023 and up +1,780% since January 2020) with real-time activity and notes/commentary throughout the day on my portfolio spreadsheet.
In this newsletter I’m going to cover the recent earnings report for DKNG (DraftKings) — what I liked and didn’t like, my thoughts and estimates for the next 12+ months, potential risks on the horizon, my updated investment model, what I’m doing with my current position and a few more things.
My investment strategy is to own 20-30 of the best growth stocks with the best fundamentals at the most reasonable valuations — if the fundamentals begin to disappoint or the valuation no longer looks compelling then I’m trimming or selling my position. I don’t own stocks, I rent them, and I keep renting them as long as the fundamentals still look good, the valuation still looks good and my investment thesis still looks good. I want stocks that have at least 50% upside within 1-2 years and at least 100% upside within 3-4 years. If I buy stocks that are too expensive or the fundamentals aren’t good enough or my investment thesis is weak — I’ll never hit my investment targets.
Over the next couple days I’ll be sending out similar commentaries for Elf Beauty (ELF), Palantir (PLTR), Toast (TOST), Sofi (SOFI), AMD (AMD) and maybe a few others. These earnings analysis writeups are only for paid subscribers.