Don't Roll The Dice On China, Buy 'One Of The Cheapest' Stocks In Penn National

Penn National Gaming Inc PENN is one of the cheapest stocks in the gaming sector, Short Hills Capital's Steve Weiss said Wednesday.

Penn National has physical assets with its casinos, an online betting sportsbook and a "master promoter marketer" in Barstool Sports founder Dave Portnoy, Weiss said on CNBC.

He noted his timing could have been better as the stock is down from where he bought it last week, but he's happy to hold the stock.

See Also: Penn National Gaming's Stock Needs To Hold A Key Support Level

Weiss said Penn National is one of the cheapest stocks in the sector because the company is actually making money.  Those who are investing in gaming stocks with ties to China are displaying a continued lack of awareness, he said.

"China just keeps taking these big two-by-fours and smacking U.S. investors over the head and what they're saying is 'hey I like it, hit me again, hit me harder,'" Weiss said. "They are disassembling capitalism outside the country and inside the country so stay away."

Weiss is avoiding Chinese stocks and said "I just prefer to be in PENN."

PENN Price Action: Penn National has traded as high as $142 and as low as $52.09 over a 52-week period.

The stock closed up 1.89% at $76.49.

Photo: Peter Lomas from Pixabay.