Why Penn National Gaming Stock Rocketed 42.7% Higher in September
Shares of Penn National Gaming (NASDAQ: PENN) surged 42.7% during September, according to data from S&P Global Market Intelligence. The regional casino operator, which purchased a 36% stake in Barstool Sports in January, rocketed higher on optimism around the much-anticipated release of the Barstool Sportsbook gambling app in Pennsylvania in the middle of the month.
September was also a strong month for sports, with the NFL season beginning, the NBA playoffs continuing, and Major League Baseball entering its playoffs as well, which probably didn't hurt.
Source Fool.com
