Q2 STOCKS TO BUY

Penn National Keeps Expanding With Billion-Dollar Acquisition

PENN is up 70% year-over-year

Digital Content Manager
Aug 5, 2021 at 9:34 AM
facebook X logo linkedin


Penn National Gaming, Inc. (NASDAQ:PENN) just announced the purchase of Canada-based Score Media and Gaming (SCR) -- a firm that specializes in sports betting and digital media. The deal is worth nearly $2 billion, and under its stipulations, shareholders of Score will receive $17 in cash and 0.2398 shares of Penn National Gaming per share held of Score, amounting to a per-share value of $34. Penn National's Chief Executive Jay Snowden said the agreement will likely help the company save on third-party platform costs and allow it to expand its product offerings. 

The shares are taking a step back today, off 4.2% at $63.48 this morning, though support near the $63 level, which PENN staged a bounce from late last month, could contain some of today's pullback. And while PENN has cooled significantly from its March 15 record peak, it still boasts a roughly 77% year-over-year lead. 

We noted last week that PENN was oversold, which could work in the stock's favor, with a short-term bounce potentially on the horizon. This is per the equity's Relative Strength Index (RSI) of 36. 

 
 

“Buy This Stock Now!” - Expert Who Called 11x On TSLA

He called a rare 11x on Tesla…

But now, thanks to Elon & Trump’s new alliance…

He says there’s a new opportunity that could be 1,000x BIGGER than Tesla – and it could completely revolutionize a $23 Trillion market.

It’s trading for less than $5 per share right now…

But it won’t be under the radar for long.

Discover The 1,000x Bigger Elon Opportunity Here

GRAND SLAM COUNTDOWN

 
 

Featured Articles from Trusted Partners:

👀Learn How Dividends Create Passive Income for Life
Receive $200 Off Motley Fool Epic. The Motley Fool Epic $299 discounted offer is based on $499/year list price. Introductory promotion for new members only. Take control of your money and your portfolio with Motley Fool Epic.

💵New Income System Could Pay You $4,243 Monthly
You could collect an average of $4,243 per month starting as early as next week with a new payout system for income investors. New registrations are being accepted for investors who want to be in a position to start with their first payout next week.

🚀Easy 92% Crypto Dividends (No Coins Required)
COIN stock doesn't pay a dividend... But there's actually a new way to collect a massive dividend that's indirectly based on the stock and offers a terrific monthly income (currently yielding nearly 92% on a forward basis).

🤝Free Advisor Match with Wiseradvisor.com
Don't leave your retirement to chance! Get matched with a trusted financial expert for FREE and make the most of your tax refund. Get started now.

⚠️Dennis Quaid's #1 Warning for Americans
Here's the thing: life doesn't come with guarantees. The economy shifts, markets stumble, and years of hard work could slip through your fingers like sand. But it doesn't have to be that way for you. So request a free copy of this Gold & Silver Guide that will arrive right to your doorstep when you act now.

 

 
 

Follow us on X, Follow us on Twitter