Why Penn National Gaming Stock Fell 15% in April
Shares of Penn National Gaming (NASDAQ: PENN), a major casino operator, fell 15% in April, according to data from S&P Global Market Intelligence. That continues a decline that started on March 15, which has seen the stock lose slightly more than a third of its value.
The interesting thing here is that there hasn't been much in the way of negative news about Penn National Gaming over this span. In fact, the most notable update was that it got approval to expand its online sports-betting business into Virginia -- clearly a positive. It even got some upgrades from Wall Street analysts during April, which would normally suggest higher share prices, not lower.
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Source Fool.com
