Like the NBA Finals... DraftKings brought the tension. The sports betting stock had soared since September as live sports (besides Russian ping-pong) returned. But the stock dunked 20% last week on news that DraftKings is selling 16M new shares. These fresh shares dilute the value of existing stock, so stockholders will own less of the overall company. Also potential nail-biters: company insiders are cashing out on $832M of stock, and at least three NFL teams reported new COVID-19 cases last week.
Empty out the wine cellar... and throw on the "sad tunez" playlist. Santa Barbara-based Sonos got dumped by Apple. The Fruit is done selling headphones/speakers from "outsiders" like Sonos, Logitech, and Bose — Apple's going 100% DIY-audio. That kills speculation that Apple could acquire Sonos, like it snatched up Beats in 2014. Sonos stock dropped 11% last week on the breakup. Pssst: Apple's new speakers and over-the-ear headphones could show up at its big hardware event tomorrow.