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. 


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI