Why Penn National Gaming Fell 17.4% in March

Shares of Penn National Gaming (NASDAQ: PENN) fell 17.4% in March, according to data from S&P Global Market Intelligence.

Don't chalk up March's losses to anything Penn did in terms of financial results; after all, the company beat revenue expectations on its fourth-quarter report back in February. Notably, Penn's interactive sports betting and iGaming segment, bolstered by the 2020 acquisition of Barstool Sports and last year's acquisition of Score Media, grew like gangbusters, up 257%.

However, March saw not one but three elements that negatively affected sentiment for Penn's stock. First, rising inflation numbers threaten to take a bite out of consumer spending power (and therefore, gambling power).

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Source Fool.com