DraftKings, Penn National Gaming downgraded by Morgan Stanley as coronavirus casts shadow over sports seasons

Morgan Stanley downgraded Penn National Gaming and DraftKings as the firm thinks much of the increased value in both stocks is valid, but adds that both have more than doubled in 2020 and investor expectations may be too high. Morgan Stanley cited 6 major risks, including additional legalization disappointments and the possibility of the NFL season being cancelled. Yahoo Finance’s Dan Roberts breaks down the details.

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