Diamonds and Dogs
Penn National Gaming (PENN) is on a roll. The stock is up 8% today after jumping over 10% yesterday following earnings. Penn actually missed earnings and sales estimates, but investors don't care. The company launched Barstool Sportsbook app in Michigan last month and is confident about expanding it to at least 10 states by the end of 2021.
Profit-taking in Peloton (PTON). The Interactive bike company is down 5% following earnings. Peloton benefited from the pandemic as earnings beat and sales rose 128% to $1.06 billion. However, product delivery delays could've made the quarter even better. By the time Peloton figures out the logistics, we may be out the pandemic. Time will tell.
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