In March the UFC and DraftKings announced that they had signed a ‘groundbreaking deal’ that made DraftKings the UFC’s first-ever ‘Official Sportsbook and Daily Fantasy Partner’.
This week DraftKings, which went public in 2020, has seen its stock tumble amid allegations of ties to black market gambling and organized crime.
The claims were made by Hindenburg Research, an investment firm that focuses on activist driven short-selling. ‘Shorting’ refers to borrowing shares in a company and selling them with hopes of buying them back at a lower price and then pocketing the difference as a trading gain.