Betting + NFL = A Low Risk Gamble

Shares of Penn ($PENN) have popped in this trading session for a nice 9% gain. Penn has seen some great movement since its last earnings release on August 6th, where we predicted that its low expectations would lead to a huge rise if expectations were beat, which they were. Penn has had a great August, and currently sits at $64 per share. The first NFL game of the season will be played tonight, and with NFL comes all the bets a person can imagine, which can explain why stocks like Penn, such as Draft Kings ($DKNG) and $MGM are up today. People LOVE to gamble, and something about football brings the betting spirit out of people. Penn National Gaming is aware of this, and they are utilizing this by maximizing their recent acquisition of Barstool Sports by creating a Barstool Betting app. This app is set to be released on September 15th, a perfect as the NFL is starting up again. Wall Street Analysts raised their price target for Penn to $80 today as well, just to add more fuel to the impressive month Penn National Gaming has had.

-Darnel Shillingford

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