Penn National Gaming Inc. ($PENN) Stock Forecast: Down 6.9% Today

What is Penn National Gaming Inc.?

PENN Entertainment (NASDAQ: PENN) operates in the entertainment industry with a focus on gaming and casino operations. Market sentiment towards PENN has been bearish today.

Why is Penn National Gaming Inc. going down?

PENN stock is down 6.9% on Dec 10, 2024 14:48

• A decline in PENN's short percent of float suggests potential investor hesitance regarding the company's future performance.
• The significant percentage of shares sold short might be influencing the downward trend in PENN's stock price.
• Investor apprehension about the company's recent performance or future prospects could be driving today's bearish market activity.

PENN Price Chart

PENN Technical Analysis

PENN News

How Is The Market Feeling About PENN Entertainment? - PENN Entertainment ( NASDAQ:PENN )

PENN Entertainment's PENN short percent of float has fallen 7.46% since its last report. The company recently reported that it has 18.40 million shares sold short, which is 13.65% of all regular shares that are available for trading.

https://www.benzinga.com/insights/short-sellers/24/12/42297694/how-is-the-market-feeling-about-penn-entertainment

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Penn National Gaming Inc. Price History

04.08.2024 - PENN Stock was up 5.7%

• Despite the YTD decline, today's strong bullish movement in PENN could be attributed to the following factors:
• Potential buying interest from investors looking to capitalize on the dip in the stock price.
• Positive sentiment surrounding the company's strong gaming performance, sports betting operations, and strategic retail investments.
• Unusual options activity indicating a bullish stance from investors with significant capital, potentially driving up the stock price.
• The combination of these factors might have sparked renewed confidence in PENN, leading to the bullish movement observed today.

25.08.2024 - PENN Stock was down 5.1%

• Unusual options activity showing a bearish stance on PENN Entertainment might indicate a lack of confidence or potential downside expectations from investors with significant capital.
• The bearish movement could be attributed to concerns about the company's financial performance, competitive pressures, or broader market sentiment impacting the gaming industry.
• It's essential for investors to monitor how these options positions evolve to gauge the potential future direction of PENN's stock price.

06.10.2024 - PENN Stock was up 5.6%

• Despite concerns about DoubleDown Interactive's future strength, PENN stock showed resilience and gained significantly.
• Analyst estimates for PENN Entertainment's Q3 earnings were mixed, but investors seemed optimistic about the company's performance.
• Even though there were expectations of a decline in earnings, PENN's stock price surged, indicating potential market confidence in the company's long-term prospects.
• The bullish movement in PENN's stock today could be attributed to investors focusing on the company's strategic growth initiatives and potential positive developments in the gaming industry.

31.09.2024 - PENN Stock was down 5.0%

• The bearish movement in PENN's stock today is linked to market expectations of a decline in Q3 earnings.
• Investors could be responding to subdued expectations for a positive earnings outcome, prompting a sell-off of the stock.
• Concerns about PENN's upcoming earnings report may be influencing today's bearish market trend.

08.09.2024 - PENN Stock was up 2.0%

• PENN shares experienced a surge following the company's unveiling of new retail operations guidance at an investor event in Las Vegas, demonstrating a strong business approach and significant advancements.
• The optimistic market trend reflects investor trust in PENN's potential for future expansion and operational effectiveness.
• The announcement is believed to have bolstered shareholder confidence and enticed new investors, driving the bullish movement in PENN's stock price today.

06.08.2024 - PENN Stock was down 5.3%

• The short percent of float for PENN has decreased, indicating a potential decrease in bearish sentiment among investors.
• Margin concerns seem to be impacting investor confidence despite the company's strong gaming performance and sports betting operations.
• The stock's underperformance compared to industry peers like DoubleDown Interactive and PlayAGS may be contributing to the bearish trend.
• Unusual bullish options activity suggests that some investors are still optimistic about PENN's future prospects, despite the current market movement.

10.11.2024 - PENN Stock was down 6.9%

• A decline in PENN's short percent of float suggests potential investor hesitance regarding the company's future performance.
• The significant percentage of shares sold short might be influencing the downward trend in PENN's stock price.
• Investor apprehension about the company's recent performance or future prospects could be driving today's bearish market activity.

13.08.2024 - PENN Stock was up 9.8%

• Smart money is showing a bullish stance on PENN Entertainment by betting big on options, indicating confidence in the company's future prospects.
• The $4M bet on the stock and insider trades suggest that executives and insiders are optimistic about PENN's performance, further boosting investor sentiment.
• The combination of institutional investors and insider buying activity could have fueled positive market sentiment, leading to the strong bullish movement in PENN's stock today.

13.08.2024 - PENN Stock was up 7.5%

• The bullish movement in PENN's stock price could be attributed to significant insider trades, indicating confidence in the company's future prospects and potentially attracting more investors.
• The decrease in PENN's short percent of float by 8.03% suggests a reduction in bearish sentiment towards the stock, possibly leading to a short squeeze scenario where short sellers rush to cover their positions, driving the stock price higher.
• The combination of insider buying and a decrease in short interest could have created a positive momentum for PENN Entertainment, driving the stock price up in today's trading session.

12.10.2024 - PENN Stock was up 5.4%

• PENN stock experienced a strong bullish movement recently.
• Despite missing third-quarter revenue and earnings estimates, analysts are optimistic about the company's future performance, particularly in the ESPN Bet and Interactive segment.
• The narrower-than-expected Q3 loss, driven by a strong performance in the Interactive segment, has positively influenced investor sentiment.
• The market seems to be focusing more on the company's growth potential and strategic initiatives rather than short-term financial metrics, leading to the recent bullish movement in PENN stock.

07.10.2024 - PENN Stock was up 5.1%

• Despite a Q3 earnings miss with an adjusted loss of 25 cents per share, PENN stock experienced a strong bullish movement.
• Investors seem to be looking beyond the earnings miss to focus on other positive aspects of the company's performance, such as revenue growth or strategic initiatives.
• The market's optimism regarding PENN's future prospects appears to be driving the bullish movement despite the earnings disappointment.
• Overall sentiment towards the gaming industry or specific internal developments within the company may also be influencing the bullish trend in PENN stock.

15.07.2024 - PENN Stock was up 5.7%

• A drop of 8.03% in short interest potentially supported the bullish movement, indicating reduced pressure from short selling could drive the stock price higher.
• The 18% surge in the stock value could be linked to favorable sentiment attributed to the company's stronger-than-expected Q2 earnings and revenue surpassing projections.
• Despite underperformance in specific segments, surpassing overall earnings estimates likely increased investor trust, influencing the upward trajectory of the stock.
• Though there were varied analyst perspectives on the future of PENN, the upbeat earnings report possibly outweighed some uncertainties, contributing to the bullish market movements.