DraftKings Stock Turns Sharply Lower: What's Going On?

DraftKings Inc DKNG shares are trading lower Monday following reports that user accounts on the company's platform have been hacked. DraftKings took to Twitter late Sunday to acknowledge the reports. 

"We are aware of reports of customers having issues with their accounts, and we are investigating. If any customers are having issues with their accounts, please contact Customer Experience Team at support@draftkings.com," the company's customer support account said via tweet. 

An Action Network report details specific user reports, including one Tennessee man who saw five consecutive unauthorized withdrawals of $500 from his account. 

“It was withdrawing it from my bank card that I used for my deposits," the man reportedly said.

Another DraftKings user was watching Sunday Night Football when he saw an email noting that $437 was being withdrawn from his DraftKings account. Several other users have reported having their accounts cleared for unknown reasons.

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DraftKings aims to be a fully vertically integrated sports betting operator. The company also offers daily fantasy sports contests.

DKNG Price Action: DraftKings has a 52-week high of $28.55 and a 52-week low of $9.77.

The stock was down 7.11% at $13.98 at time of publication, according to Benzinga Pro.

Photo: courtesy of DraftKings.