was $28 on July 13

And my dumbass sold then

It was $4 in April/may

astros4545 said:

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It was $4 in April/may

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i just saw that. i bought june 24 for $34 so I still did ok

I sold at $36....sure didn't see this run coming, but I didn't want to be holding if sports didn't end up coming back this fall. Whoops.

Bought early March at $21, haven't sold yet. Reminder that Penn bought a 36% stake in Barstool for $136 mil. Seems like an absolute steal in retrospect.

Bought at $15 but only like
65 shares. Just used what little cash I had at that time
In the account

Figures it went through the roof

I have just a small stake in from when it was $17. Regret putting some in Draftkings too instead of all my gaming here.

Never saw this coming with draftkings barely up from when i bought it.

Crosspost with the 10 bagger thread as this is close to being my second 10 bagger ever.

I started buying at $20 during the crash and bought lots at $5 increments all the way down to $5. I started selling at $30 to lock in profits and am down to 10% of my original position that I plan to hold until the online app is released and US sports are completely back. I figure at that point the market will price PENN so that the market cap is roughly equivalent to DKNG. At that point I'll be totally out--and the lower long term capital gains taxes will be a nice tailwind for my returns.

Right now though, this pricing is bonkers IMO (which is why I'm 90% out). The company sells the Trop at fire sale prices for rent IOUs, loses $1.69 a share in the previous quarter, can't pay down it's massive debt pile (as previously planned) due to the massive cash flow hit, and points to the gambling app and nationwide online sports betting (which is years away optimistically) as their growth driver, yet pops to >$50 a share with El Pres fanning the mania courtesy of snake oil preacher memes (which are ironically apropos) on the 'gram... SMH...

That's lunacy from a risk adjusted return perspective.

hedge said:

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dave portnoy effect

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Didn't he buy a ton at like $9? I think he got to the point where he maxed out his position around there.

I thought he bought more when it was like at 4 or 5

hedge said:

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I thought he bought more when it was like at 4 or 5

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Not sure, but he has to have made out like a bandit.

He's gonna get charged with securities fraud eventually

I really want to sell but I never sell stocks. Don't think I've ever paid the short term gains tax. I guess it kind of makes sense here since I don't trust the price to stay anywhere near this high until next April. Thoughts?

This is a good problem to have! I would do the math game of what price are you OK selling a year from now to make the money you would make today with the marginal tax rate.

If you think PENN can last to that number, keep it. If you think it's dips below that number, sell it sooner than later to maximize your profits.

$73 today

This stock is so wild. Thankfully haven't sold it yet. Hoping it can stay this high until I hit the one year investment mark.

back to $53

What do you think a good buy back in price is? I sold at $30 a couple months ago.

$91

rlb28 said:

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$91

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This makes me sick....

I think I was in on the $10 to $20 range and sold/made a nice profit in the same arena. Never would have dreamed it would go to $91 in a regular time let alone a pandemic where hardly anyone is gambling. Congrats to Rib and all the others that can hopefully retire off the gains this year.

I'm up 600% to date.......too bad I didn't put enough into it. This stock is unreal.

Crazy it may hit 95 today, wouldn't have guessed that back during my first post in this thread. Wish I had more in it, but it will help a ton with my first house down payment.

May have to buy a $PENN sweatshirt after these gains. If online gambling begins to spread to more states, this thing only has more room to run.

Aaaaannnnndddd--I'm out.

$106

Figured there might be a thread here on this. I'm still sitting on 5 shares at $16.04. By sheer luck, PENN was my pick in a friendly stock picking contest here in the office back in March. Needless to say, it was a clear winner. If only 5 shares had been 50-100. Been a heckuva run though. Kinda just want to sit on it and see how high it could go with Portnoy.

dallasag12 said:

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May have to buy a $PENN sweatshirt after these gains. If online gambling begins to spread to more states, this thing only has more room to run.

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I think barstool is the big factor here, the fact they still dont have the app out in colorado when it was supposed to be out for nfl season is troubling to me. they cant botch a ton of launches and lose market share and be sucessful.

It looks like Penn is gonna grow even more. A couple of tweets from Dave Portnoy:

Quote:

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Imagine downgrading $Penn a few days before I conquer Michigan and when I'm at the absolute height of my powers. It's almost like analysts don't know what they are talking about. Or maybe I'll be wrong for first time in 2 decades. Could happen I suppose?

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"Penn National: In the note, Kelley raised his price target on Penn National Gaming PENN 4.2% from $101 to $115. The new target is based on a multiple of 15x EV/EBITDAR compared to a prior multiple of 13. Upside to Penn National could come from winning additional casino licenses not in estimates by the analyst. Legislators in New York recently proposed a bill to offer 14 sports betting skins from the seven existing casino operators.The state could launch online sports betting in late 2021 or early 2022"

Quote:

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I will own New York.

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FYI, Barstool Sportsbook is launching in Michigan this Friday. They also just today announced a partnership with Nickmercs(a wildly popular video game streamer and Michigan native) who occasionally also livestreams NFL games he's betting on during the week. Movin' on up!

this is fascinating and will be interesting to see if its a blip or if something is seriously wrong and the SEC wants to get involved with barstool (and their pick people). I have a feeling its from the parlays they love to throw out there (imo irresponsibly), but only time will tell when they have more open.

Long term will be interesting to see how the advertising/people who make picks get regulated. There is nothing stopping people from posting bets, without actually bettting. I dont honestly think most of the barstool crew actually puts much, if any on their stuff. There's definitely a ton of bad info/bad intentions out there (and 100% not just them, they're just more in your face about their book than anyone else).

That's wild. I don't see how their bettors would lose so much more money than other sites. I know their "pundits" are bad (but they are hilarious), but even with them being bad I don't see how they'd lose that much more. It's not like they can purposefully pick losers (if they could do that, then they'd actually be great at picking games). I guess if they are pushing parlays with terrible odds, then that could be part of it.

Man this is one that I won't necessarily lose sleep over, but still remember when it was at its lows and was being told to buy it and I held off.