Today we discuss DraftKings (DKNG), a publicly traded company that operates daily fantasy sports contest and sports bettings.

Shares of DKNG are up 9% after announcing that the NBA Hall of Fame Michael Jordan will be joining the company as a special advisor to the board of directors, effective immediately.

“Michael Jordan is among the most important figures in sports and culture, who forever redefined the modern athlete and entrepreneur,” said Jason Robins, DraftKings co-founder and CEO. “The strategic counsel and business acumen Michael brings to our board is invaluable, and I am excited to have him join our team.”

Michael Jordan has agreed to take an equity interest in DraftKings in exchange for providing guidance and strategic advice to the board of directors on key business initiatives, the company reported.

Watch this video to get the technical insights.

Good trading!


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