has taken a short position on Draftkings Inc , sending the online gaming firm’s shares down nearly 11% in premarket trading.
“We think Draftkings has systematically skirted the law and taken elaborate steps to obfuscate its black market operations from the investing public,” Hindenburg said.
Draftkings, the latest in Hindenburg’s recent string of attacks against special purpose acquisition companies (SPACs), was not immediately available to comment.
Other SPACs targeted by Hindenburg include electric-truck maker Nikola Corp and Lordstown Motors.
Short-sellers bet the price of a stock will fall by borrowing and selling shares in the hope of buying them back at a cheaper price and pocketing the difference
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