- Penn National Gaming (PENN -3.9%) is down on a high-volume move that makes it the leading decliner in the casino sector. The low on the session for PENN is $101.78.
- Momentum has turned against Penn even though the stock rates at the top sector with a Seeking Alpha Momentum Grade of A. Penn trades with a higher earnings multiple than most of its brick-and-mortar peers due to the upside seen with the Barstool sports betting business.
- Update: Dave Portnoy says that investors should buy the dip in Penn if the decline is due to a sex tape that exists of him on the Internet. "Who cares," he tweets.
- Seeking Alpha Marketplace's Howard Jay Klein reminds that Penn faces a surprise (positive or negative) when U.S. states start reporting sports betting tallies for March.