dave-portnoy-lays-out-how-bartsool-sports-separates-penn-national-from-other-stocks

Dave Portnoy Lays Out How Bartsool Sports Separates Penn National From Other Stocks

PENN).” data-reactid=”19″ type=”text”>Barstool Sports Founder and President Dave Portnoy took to Twitter on Tuesday morning to defend the share price of Penn National Gaming (NASDAQ: PENN).

Penn National bought a 36% stake in Barstool Sports and has enjoyed a new loyal following thanks to Portnoy and Barstool’s popularity.” data-reactid=”20″ type=”text”>Earlier this year, Penn National bought a 36% stake in Barstool Sports and has enjoyed a new loyal following thanks to Portnoy and Barstool’s popularity.

recently downgraded Penn National. Analyst Thomas Allen believes its valuation was too high after a 100% gain. Portnoy took to Twitter in response mainly to the analyst’s $55 price target:” data-reactid=”21″ type=”text”>What Portnoy Thinks: Morgan Stanley recently downgraded Penn National. Analyst Thomas Allen believes its valuation was too high after a 100% gain. Portnoy took to Twitter in response mainly to the analyst’s $55 price target:

  • “People root for Barstool like we’re a sports team”
  • “They wear our merch. They wear our letters.”
  • “They root for us. They follow us.”
  • “That’s why the PENN stock rockets.”
  • “It’s owned by the everyday man… It’s owned by the fans.”

Portnoy brought up the case for the built-in following of him and Barstool being a huge marketing advantage for Penn National.

“[We have an] entire marketing force that we don’t have to pay,” Portnoy said. “We have a marketing force that you can’t buy.”

This is what I tell people about $Penn. I could be wrong. Granted I haven’t been wrong for 2 decades and made all my partners rich but I guess I could be wrong this time. #PennArmy pic.twitter.com/x7ipSegECB

— Dave Portnoy (@stoolpresidente) September 1, 2020

“Based on Barstool’s significant awareness/engagement (100 million social media followers), we forecast it achieving 10% market share of US sports betting,” Allen said.

DKNG) market share to fall from 30% to 25%, taking a hit from the Barstool app launch and other sports betting players.” data-reactid=”37″ type=”text”>The analyst expects DraftKings’(NASDAQ: DKNG) market share to fall from 30% to 25%, taking a hit from the Barstool app launch and other sports betting players.

See Also: ” data-reactid=”39″ type=”text”>See Also:

DraftKings Vs. Penn National: Which Company Will Win The Mobile Sports Betting Race?” data-reactid=”41″ type=”text”>DraftKings Vs. Penn National: Which Company Will Win The Mobile Sports Betting Race?

© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.” data-reactid=”44″ type=”text”>© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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