Not a big $PENN fan, but $35 Short Target
First off, please don't take anything I say seriously or as financial advice. As always, this is on an opinion based basis. That being said, I don't support gambling from a moral standpoint. I am an excellent gambler in the sense that I know it is a manipulations game of cat and mouse, utilizing statistics and knowing the patterns, it is easy to beat the system that tries beating you. However, most people are mathematicians spending hours studying patterns, if they were casinos would be bankrupt in hours. That being said, casinos make their money off exploiting the foolish and the risk takers. The odds are meant to be stacked up against you in ways that are already pre-configured. If you aren't sitting in the corner doing multivariable calculus, you have better luck probably burning your money in oil. While all patterns are a mathematical science and art form, for that reason alone I don't endorse gambling. I don't even endorse the geniuses to try to do gambling. That being said, from a non-bias standpoint I want to look at PENN's stock. Right at their downfall and the whole Covid19 scenario, they bought a large piece of Barstool Sports as an investment stake, which is a way to sort of expand in the digital realm. In fact, they purchased a 36% stake. Besides purchasing a stake of a large digital broadcasting/media blog, PENN also owns a large share of the entire online gambling market segmentation besides their casinos. They also have their own responsible-gambling code of conduct, which I can respect. That being said, the patterns look like they are in a positive retracement. They are also in growing market segmentations in terms of demand. Short potential is there for a quick profit turn-over, so is even likely a long hold.
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