Why Penn National Gaming Shares Are Rising

Penn National Gaming, Inc. PENN shares are trading higher following positive commentary on Twitter by Prescience Point Capital Management.

The firm noted in a tweet that it is long on Penn National Gaming. Prescience believes the sharp selloff from the Barstool founder, Dave Portnoy, article reflects a huge dislocation from actual business fundamentals.

Prescience Point Capital believes Penn National Gaming can double in price.

Prescience Point also tweeted 'Over the past few months Penn National Gaming has steadily gained share. Once the dust settles, Barstool’s brand loyalty will differentiate itself from competitors, generating sticky, high margin revenue.'

Penn National Gaming, Inc., together with its subsidiaries, owns and manages gaming and racing properties, and operates video gaming terminals.

Penn's stock was trading about 8.3% higher at $62.17 per share on Friday at the time of publication. The stock has a 52-week high of $142 and a 52-week low of $56.35.