DraftKings Tumbles on Q2 Numbers

DraftKings Inc. (NASDAQ: DKNG) began Friday trading sharply lower, after it announced results for the second quarter of 2024 and that its Board of Directors authorized the repurchase of an aggregate of up to $1.0 billion of its Class A common stock. The Company also posted a second quarter 2024 business update and an earnings presentation on the Investor Relations section of its website at investors.draftkings.com.For the three months ended June 30, 2024, DraftKings reported revenue of $1,104 million, an increase of $230 million, or 26%, compared to $875 million during the same period in 2023…