“We believe Penn’s shares’ 20 percent decline today is more of a function of investors’ reaction to a negative article on Barstool Sports visible founder Dave Portnoy than investors’ reaction to margin deleveraging in the third quarter or October,” Joe Greff, an analyst with New York-based JP Morgan, said in a note to investors. Gaming industry analysts had speculated Thursday that the stock price plunge was the result of a negative article about the founder of Penn partner Barstool Sports. Penn closed Friday up $4.36, 7.6 percent, to $61.78 a share on volume more than three times the daily average. stock shares on Friday gained back about one-third of the value lost Thursday when the stock plunged nearly 21 percent on the day of the company’s third-quarter earnings call. Baskow/Las Vegas Review-Journal) National Gaming Inc.
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