Penn National Gaming (PENN)

May 26, 2021Trade Ideas

Not long ago, we highlighted a short opportunity with Virgin Galactic (SPCE). Then, on May 20, on news of a test launch, we highlighted a long opportunity. At the time, the stock traded at a low of $18.70, and is now up to $25.60 on a successful test flight.

So, not only did you have a chance to make money on the short side, you had an opportunity to make money on the long side, too. If you have a chance, we’d love to hear how you did.

As for new opportunities, take a look at Penn National Gaming (PENN).

At the. moment, PENN is severely oversold on RSI, MACD, and Williams’ %R. However, we don’t expect that to last much longer, with casinos seeing higher foot traffic, and revenue.

According to the American Gaming Association (AGA), gross gaming revenue for the first quarter toped $11 billion. As reported by Casino.org, “Despite the virus certainly not behind the US, gaming industry revenue in 2021 is off to a blistering start. The $11.13 billion total GGR number matches the previous all-time record quarter set in the first three months of 2019.”


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