Penn National Gaming, Inc (NASDAQ:PENN) stock is trying to recover this morning from yesterday’s slump. The stock went south despite postings much better than first-quarter earnings.
Penn National swung to a profit of $91 million, or 55 cents a share, from a loss of $5.26 a share in the year-ago quarter. For the latest quarter, the company’s revenue jumped slightly to $1.28 billion, up from $1.12 the same quarter of the last year.
Analysts were estimating earnings of 26 cents per share on revenue of $1.14 billion.
“Penn National kicked off the year with record results in Q1 2021 from our land-based business and the launch of our online Barstool Sportsbook in Michigan and Illinois,” CEO Jay Snowden said.
Yesterday’s move was really an exception and made several investors nervous. The stock has lost already 40% from its 52-week peak of $142 in February.
So keep an eye on PENN stock as it may get some value buying in the coming sessions.
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Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.