Needham & Company Managing Director Bernie McTernan joins Yahoo Finance Live to discuss the score on sports betting companies during the NFL season.
A broad cross-section of stocks slumped this week, as a decision by the Federal Reserve Bank brought the macroeconomic challenges front and center. Among the casualties, plant-based meat specialist Beyond Meat (NASDAQ: BYND) was off by as much as 20.1% this week, daily fantasy sports and online gambling leader DraftKings (NASDAQ: DKNG) was down as much as 16.7%, and sustainable footwear maker Allbirds (NASDAQ: BIRD) was down as much as 13.5%, according to data provided by S&P Global Market Intelligence. As of the close of the trading day on Thursday, the trio was still trading lower, down 16.7%, 16.2%, and 12.4%, respectively.
Sports gamblers in New Jersey now have a new way to profit off their favorite NFL player's success.