The video provides a fundamental analysis of DraftKings (DKNG) stock, currently priced at $32.89, after a roughly 20% drop in the last month. The intrinsic value, calculated this morning, is $48. The stock is undervalued. Downward revisions to free cash flow expectations are due to competition from companies like Kalshi and Polymarket entering prediction and sports betting markets. DraftKings has made an acquisition to capitalize on deregulation. It is facing stiffer competition from new market entrants encroaching into event-based wagering, like sporting event outcomes. DraftKings is trying to enter the California market through a ballot campaign and legalize sports wagering. The analysis does not explicitly provides a target price for DKNG, but rather an estimate of its intrinsic value, and a fail price, it is set at $25, below the current price, indicating a bullish outlook.