The analysis discusses DraftKings' recent stock downgrade from a top buy to a buy due to a significant share price increase since January, impacting its valuation. The analyst still likes the company for long-term investment. Efficiency improvements, manual workflow automation, and economies of scale, plus benefit from increase in sports viewership, streaming services like ESPN and FOX, for cross-selling opportunities with sports streaming apps are mentioned as improving the DraftKings' profitability. Q2 report earning call transcript mentions that 20% of the customers makes million of bets. The current expected EBITDA is of 35-45 million for the next year The company is planning to launch in Missouri in December with estimated losses due to the high investment and advertisement. The analyst proprietary discounted cash flow valuation projects an intrinsic value per share of $58.72, with current market price trading at $47.68. Fiscaleal.ai shows DKNG trending at $60.30 price with a 28% change in year.The analyst has a 'buy' rating for the stock.