Investing.com -- Shares of DraftKings Inc (NASDAQ:DKNG) tumbled more than 3% on Friday on concern about the spread of Covid-19 and its effect on Major League Baseball.
The sports betting site hit a 52-week high of $44.79 last month as major league sports made plans to resume play. But an outbreak of coronavirus, especially within the Miami Marlins baseball operation, forced MLB to suspend the team's schedule. Shares of DraftKings traded around $33.63 on Friday morning, down 24.9% from that June 20 peak.
The league postponed a Friday night game between the Milwaukee Brewers and the St. Louis Cardinals because of a positive Covid test. And weekend play has been suspended for the Philadelphia Phillies.
MLB has updated its coronavirus protocols, according to ESPN, which reported Wednesday that the league is requiring the use of surgical masks for travel and the presence of a compliance officer to ensure league protocol is being followed.