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Why Penn National Gaming Stock Flew Higher on Thursday

TheMotleyFool

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Why Penn National Gaming Stock Flew Higher on Thursday

Shares of Penn National Gaming (NASDAQ: PENN) spiked much higher on Thursday, after the company reported results for the first quarter of 2020. The stock finished the day 15% higher, and has now climbed a stunning 385% from its March lows. However, even after this incredible run, it's still underperforming the market in 2020.

Later on Thursday, Wall Street sent the entire casino sector higher after the Nevada Gaming Commission approved guidelines for reopening Las Vegas.