DraftKings rose 10% on Wednesday after signing an exclusive partnership with the New York Giants. The victory also came amid the news that the Big 10 Conference has re-established plans to start its football season, which begins in October.
The jump reached the intraday record for the sports betting company, which has increased by about 400% since the start of 2020.
DraftKings will be the official sports betting spouse of the Giants and the Daily Fantasy operator, with the team’s exclusive virtual brands, logo and game rights.
DraftKings competitor Penn National Gaming rose 4% to intra-notic highs on Wednesday after the big 10 were announced.
Read more: Wall Street Corporate says investors buy the 15 reasonable, high-income stocks now to beat the market in 2021, as more expensive corporations fall behind