Why DraftKings And Penn National Shares Are Trading Lower Today

DraftKings Inc. DKNG shares are trading lower after Hindenburg Research published a short report on the stock. Penn National Gaming, Inc. PENN shares are trading lower in sympathy with DraftKings.

Hindenburg Research published a report titled, "DraftKings: A $21 Billion SPAC Betting It Can Hide Its Black Market Operations."

DraftKings is a digital sports entertainment and gaming company. The stock was trading about 7.5% lower at $46.74 at the time of publication. The stock has a 52-week high of $74.38 and a 52-week low of $27.54.

Penn National Gaming is the operator of gaming and racing properties and video gaming terminal operations in the U.S. The stock was trading about 1% lower at $79.85 per share. The stock has a 52-week high of $142.00 and a 52-week low of $26.96.