Rush Street Interactive, Inc.

13.24

-0.5800-4.20%

Post-market: 13.240.00000.00%19:32 EDT

Volume:875.22K

Turnover:11.71M

Market Cap:1.27B

PE:135.38

High:13.73

Open:13.56

Low:13.20

Close:13.82

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News

How DraftKings Is Responding to a New Tax and What It Means for the Gambling Industry -- Barrons.com

Dow Jones

·

14 Jun

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The token’s market cap now stands at $4.63 billion, while 24-hour trading volume hit $103.51 million, marking a sharp 54.20% spike.With a fully diluted valuation  of $62.3 billion and a circulating supply of 7.44 billion PI, the market cap ratio sits at 2.22%, pointing to heightened trading intensity.Technically, PI is navigating a precarious recovery zone. After breaching lower levels, the price established $0.6200 as short-term support. The rejection from $0.6410 signals resistance at that zone.A short-term moving average crossover occurred as the RSI touched 60 briefly during the early rebound. The fast-moving line then reversed below the slower one, reflecting a failed bullish breakout. 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The recent drop has pushed several technical indicators into bearish territory, with the price hovering near critical support levels.A newly formed death cross and rising ADX suggest downward momentum remains in control, while RSI shows only a slight rebound from oversold conditions. 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That comes in addition to the current 0.25% excise tax at the federal level, which was enacted in 1951.DraftKings won't go quietly. In a statement Friday, the company slammed Illinois lawmakers for deciding to \"more than triple our tax rate over the past two years.\". Shares of DraftKings fell 1.8% to $37.17 following the announcement. Flutter Entertainment traveled with them, declining 1.2%. 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