Should You Wait Until After the Election to Buy Penn National Gaming?
The current risks for Penn National Gaming (NASDAQ: PENN) are only mildly related to the upcoming U.S. presidential election. The more pressing issues are its valuation and how it's handling the ongoing COVID-19 situation.
Gambling stocks that have exposure to online sports betting have seen wild climbs this year. The bullish runs got ahead of themselves. That bullish run and rising COVID-19 cases are the main problems with investing in Penn National Gaming at the moment.
Any influence this election might have seems to fall around the presidential candidates' respective stances on the scale of social distancing measures and their disposition toward stimulus spending. Penn National Gaming has significant brick-and-mortar exposure through its casinos, hotels, and horse tracks. If social distancing measures return to the tightened levels we saw in the spring, the company could face some major problems.
Source Fool.com
