DraftKings downgraded by JPMorgan, UBS and Stifel as prediction market losses weigh

DraftKings has been downgraded by JPMorgan, UBS and Stifel following its third-quarter results and reduced 2026 outlook, as analysts question the potential returns from its expanding prediction markets business.
DraftKings shares fell 21.3% on Friday to a new 52-week low after the company cut its financial guidance and said its prediction markets business could generate between $900 million and $1.05…