PENN

Florida_Knight77

Background: Young investor, 30+ year investment horizon. Looking to be aggressive while I still have many years of earning potential ahead. Currently have time to research and pick stocks. Plan to start DCAing into index funds in a couple years CLF (32%) - Been swing trading and selling covered calls on this one since it was at $16 back in April. Believe company will announce great results + guidance at earnings next month. PENN (18%) - Casino business with a history of profitability that’s been on my watchlist since they acquired Barstool Sports. Most interesting way to play sports betting legalization in the US imo. Finally took the plunge after their earnings report dump a couple months back, been averaging down since $55. SOFI (15%) - Great leadership here, absolutely love the business. Still fairly high valuation, but I think there’s a short-term catalyst based on their bank charter application being approved. Add in their Galileo business, and this is a stock I’d like to hold forever. SRNE (8%) - Biotech company developing cancer treatments, non-opioid pain medicine, and various COVID related products. High-risk, high-reward. TLRY (6%) - Cannabis bag holder here. I’ve been selling calls on this one since august so I’m about at break even. In my head I know I should probably cut bait, but a rally in cannabis could take this back over $10 in a hurry. PSTH (6%) - Went relatively big into this SPAC after Ackman announced the UMG deal in August. Sold off most of my shares to lock in the 2021 tax loss. Trading below NAV there’s basically no downside risk, so I’m holding onto some shares on the off-chance the SPARC proposal is approved by the SEC. Learned my lesson on SPACs here. AQST (2%) - Biotech working on an orally-delivered treatment for seizures. Stock tanked 30% when the FDA delayed approval on their product labeling before the holidays. Small gamble that the sell-off was baseless and the drug is approved soon. SCYX (2%) - Another biotech which I believe to be undervalued. Developing anti-fungal treatments with one currently being sold in the US. $188M market cap, but potential peak sales target of $400M+. Also worth noting that Michael Burry added $1M worth of shares in his latest 13F Cash (11%) - I’m stockpiling cash in expectation of a market correction, looking to trim some positions on the next move up and get to roughly 20% cash. Magic internet coins (>1%)

Florida_Knight77

Background: Young investor, 30+ year investment horizon. Looking to be aggressive while I still have many years of earning potential ahead. Currently have time to research and pick stocks. Plan to start DCAing into index funds in a couple years CLF (32%) - Been swing trading and selling covered calls on this one since it was at $16 back in April. Believe company will announce great results + guidance at earnings next month. PENN (18%) - Casino business with a history of profitability that’s been on my watchlist since they acquired Barstool Sports. Most interesting way to play sports betting legalization in the US imo. Finally took the plunge after their earnings report dump a couple months back, been averaging down since $55. SOFI (15%) - Great leadership here, absolutely love the business. Still fairly high valuation, but I think there’s a short-term catalyst based on their bank charter application being approved. Add in their Galileo business, and this is a stock I’d like to hold forever. SRNE (8%) - Biotech company developing cancer treatments, non-opioid pain medicine, and various COVID related products. High-risk, high-reward. TLRY (6%) - Cannabis bag holder here. I’ve been selling calls on this one since august so I’m about at break even. In my head I know I should probably cut bait, but a rally in cannabis could take this back over $10 in a hurry. PSTH (6%) - Went relatively big into this SPAC after Ackman announced the UMG deal in August. Sold off most of my shares to lock in the 2021 tax loss. Trading below NAV there’s basically no downside risk, so I’m holding onto some shares on the off-chance the SPARC proposal is approved by the SEC. Learned my lesson on SPACs here. AQST (2%) - Biotech working on an orally-delivered treatment for seizures. Stock tanked 30% when the FDA delayed approval on their product labeling before the holidays. Small gamble that the sell-off was baseless and the drug is approved soon. SCYX (2%) - Another biotech which I believe to be undervalued. Developing anti-fungal treatments with one currently being sold in the US. $188M market cap, but potential peak sales target of $400M+. Also worth noting that Michael Burry added $1M worth of shares in his latest 13F Cash (11%) - I’m stockpiling cash in expectation of a market correction, looking to trim some positions on the next move up and get to roughly 20% cash. Magic internet coins (>1%)

blamethevaline

How much further does PENN fall? Feb 25 puts are inexpensive. If Earnings are terrible it could drop another 25 percent

Stock_Operator1

PENN Physical casinos to benefit from reopening and virtual gambling from the palm of your hand = Profitability in 2022. New market opening in 2022 worth 5 Billion USD GGR is a significant catalyst through PENN’s recent acquisition of The Score.

Stock_Operator1

PENN

MindMugging

Put it plainly...yes...things can turn for the worst, and it turns quickly. If you haven't experienced a turn like that before, you will freeze up. You look at your loses and keep thinking to yourself "I gotta at least make it back to break even". So you end up holding it longer than you should. Now you're exposed to more downside risk on that, or you're simply stuck with a stock that bottomed out and stays at the bottom for a prolong period of time. Now you miss out on the gains if you existed that position and move to something else. If you're trying to buy a company on its way down...there are a lot of risk associated with it. Even in the stock portion it's better to break it up into a few bets for the same theme. It's good to hear you're also backed up by ETFs so your portfolio as a whole is not so concentrated. When looking at diversification, in general it is best to look at it in a WHOLE PORTFOLIO perspective. If you have let's say 45% SPY/VOO - all the same basically US index 35% VEU/ACWX - world ex US index 10% BND - Bonds 10% any stock.......let's say ATVI (since it's one of the worst 2021 performers).... So 10% in one stock is still a lot, but if you lose 50% of that, it's only a 5% hit on your total assets. Alternatively....10% consists of ATVI, PENN, LVS, WYNN.....we going full dumpster diving here. The chance of all of them lose 50% is lower.

j_stars

PENN is the other stock that only goes up.

Ayahuasca-Dreamin

I always shop rope when my 2.15 shares of PENN are down 44%

CSMATHENGR

So why the fuck did PENN go from $4 to $140 during the pandemic? Didn't understand it then, don't understand it now. I was a PENN bear at 140, PENN bull at 75 but ever since the market has turned im a PENN bear until $20. Also barstool is going to implode at some point

MikeyDabs414

I think its a great candidate for growth with the popularity of sports gambling in younger men coupled with increasing legalization, i could see it being a very large company in the future along with $PENN.

rock4sammy

Remember in 2019 when PENN was ATH's. Portnoy has failed us

MrSteveC

PENN will move ⬆️

jbforte

Most of these tech or “Covid” stocks have done this. Look at ZM and UPST or DKNG and PENN. My theory is many stocks that retail and institutions jumped into during these two Covid years went crazy due to the rise of retail trading from home and due to the amount of money that Covid, FED money printer, and unemployment increases gave out. Lots of bubbles are now bursting. I like HubSpot a lot as the software but could see this falling more. Ask yourself would you buy more ? If not, maybe sell or cut half and use the money in a safer investment. Or get an advisor and invest in mutual funds and earn money vs loosing on single volatile stocks. Gl man

tacc1132

Sometimes I think about these insane prices on stuff like ROKU at 465 or PENN at 150 and wonder how I never bought a single put

LukaDeezNutz

FUBO and PENN are better bets for sportsbetting than DKNG imo

Alternative-Froyo-47

$PENN or really any gambling stock. Easy money next couple of years. Just be patient.

ratthatgetsthecheese

My first put was a PENN weekly in March 2020 which turned out to be a 1200% return when I sold early. I then got Tesla and spy puts and proceeded to make 25k in two weeks. Stopped with the options when the market recovered but then got Nokia calls when the gme nonsense was going down. Said what the hell and got 400 dollars of weeklies. 3 hours later they were worth 5000. Then robinhood fucked me.

ByahhByahh

Whenever I don't feel like doing errands I just buy shares in companies that have shit I need so I'm incentivized to go do them. Anyway, $PLBY $BUD $TLRY $KMB $PENN

twitinkie

PLTR, CHPT, BABA, PENN/DKNG, AI, BYND I'm pretty bullish on from where they're at today

DrSeuss19

PENN isn’t allowed to take part in NY’s online gambling.

SpauldingSmails18

You brought up PENN big dog

SpauldingSmails18

PENN has significant of brick and mortar revenue and just opened another casino. Don’t sleep

tacc1132

Since I have zero life, I went through every single options trade I've made since starting pre-covid in 2020. Some interesting/sad statistics: * I've made 323 plays; 73% calls. 27% puts * My biggest $ gain was $8,424 on FB calls during August 2020 * My biggest $ loss was $11,078 on PENN puts in September 2020. (Would have been 75k gain if I held for one more day) * Biggest % gain was 2440% on XLE calls in November 2020 * I'm actually positive on Vanguard. Negative on RH and TDA. * On average, my positions expired in 8.6 days from when I purchased them * \- $35,833 all-time. Probably should quit but oh well. Gonna die one day anyway.

squirea1

DKNG looking tasty. PENN has room to fall still

lb-trice

Lmfao this Jeff guy doesn’t know wtf he’s talking about and is just spreading nonsense FUD. How difficult is it to look up all of the stocks in the S&P 500 and look at the 2021 returns? I literally did this on my phone in 5 minutes. Out of all of the S&P 500 stocks, there were only 65 stocks that ended the year red, the worst of which was Penn Nation Gaming PENN, down about 50%. The majority of the rest of the stocks are up 20-50% for the year, and the “big 5” aren’t nearly has green as Soo many of the other stocks in the S&P. This Jeff guy sounds like he doesn’t know how to use the internet.

Zestyclose_Ad_1566

PENN. From a value investing perspective, I like PENN a lot more than DKNG.

joethemaker22

So Draftkings is trending on twitter. I get people hate the stock but isnt that good for their companies market share? PENN, CZR, Fan Duel arent the ones that is trending or having so much discussions on social media it is draftkings.

investortrade

Maybe look at ROKU, PYPL, PENN. I’m in all of those, and I got into them much higher than where they’re currently trading at.

SharksFan1

PENN also has a phone app.

prickliestpeach

I was up 118% on a $PENN 0dte at 9:45, took a screenshot then forgot to sell lol Ended up making $1.

louistran_016

DKNG is the largest online player and PENN is the strongest “brick and mortar” player

SharksFan1

Load up on what DKNG and PENN? Are there any others?

BlackStrike7

I won't touch DKNG with a 30' pole, it's overhyped in my view. I held PENN for awhile, and it did good things for me, but that was due to luck before I got better at evaluating stocks. Honestly, looking over the four you mentioned, I wouldn't take that bet (pun definitely intended).

Southern-Hat383

You know it’s fake when PENN is up 🤣

Fit-Lengthiness-5994

Same with PENN

ak22801

Back to anal bleeding thanks PENN and DKNG!

numbersalone

PENN single handedly holding SPY up...

Jasonhenz

where’s my PENN brothers at? I used to love this stock

Character_Student714

PENN 55 calls at open its a move

ak22801

Ready for a 45th week of PENN and DKNG in the red let’s go!!!!!

aioliravioli

PENN. bought shares thinking i could sWiNg tRaDe ended up holding way too long expecting a bounce

CielSchwab

The sector has been hit pretty bad in the past few months (see PENN, DKNG) and they realized a big part of the NFL expenses this quarter. Everything else looks good

DriveNew

ROKU: On September 27, you had the 50, 100, and 200 major SMAs (Simple Moving Averages) all coming together. Then, the 50 proceeded to cross below the 200... This is called a death cross. Then, there was a bit of a bump because a trendline was holding it up... Then on October 22nd, everything unraveled. SPY was ripping up higher, and ROKU was dumping... It became Relatively Weak to the market. I still hasn't quite found support... PYPL: Same Story as ROKU... On October 20, it closed below every SMA, while SPY is ripping up, and you rode the elevator all the way down. It may have found support right now, but this was a dog for 2 months plus... PENN: Same story as your other two trades... Warning signs galore, prior to that big dump it took on earnings on November 4th... prior to that, SPY is ripping up, yet it was falling below every major SMA. V: nice rebound after the market found support, but has major overhead resistance at the 100/200 SMAs, and is a little bit weak to the market right now... DIS: This stock hasn't been able to recover from the big massive dump it took along with the market in September... Still below all the SMAs, and death cross on the 50/100/200 SMAs. hopefully it bucks the trend for you. But you need major tailwind from the market for it to breach back to the upside... Good Luck OP.

catchyphrase

Idk I did a lot of great trades then lost $40K on CRSP and PENN and have spent the rest of the year climbing back to event with more great trades. Your post is worthy but I’ve made money on 85% of my trades and but 2 stocks alone crushed me. Especially in a rising and volatile market it’s hard to justify when to take the loss, but eventually I did..

investortrade

Beat up stocks? Look at ROKU, PYPL, PENN, and maybe DIS, and V

MasterDebator691269

Your strategy is great but there’s a disconnect in your application of it. Why would you buy all these trillion dollar stocks with the exception of $PLTR which has gone nowhere when they’re already in stage 8 or 9 of a 10-stage growth cycle? Shouldn’t you be looking at $PTON, $BABA, $Z, $SPCE, $SNDL $PENN, $RBLX, $RIOT or even $CCL?

shepherd_eyes

https://twitter.com/eddiebarstool/status/1476019341984415745?s=21 $PENN going to 0

Sweet-Philosophy4468

I think DKNG returns to 60+ at some point next year. Seems crazy oversold the last couple months. May still languish here in here high 20s/low 30s for a bit. If it breaks down further from here that would be pretty bad though. Too many sportsbook tickers with little to no differentiation came to a head a couple months ago and investors all over said 'fuck it I'm out until some emerge as clear leaders'. The fact that PENN/DKNG are slaughtered from their highs and no sign of recovery means they aren't rushing to build their position back. They're waiting for something to happen.

Glum-Researcher1532

DraftKings sponsors because it needs too. They pay to get the name out there. PENN bought a loveable “sports media outlet” (Barstool) and that is their advertising. An investment in a growing company that has a crazy loyal fan base, has been growing year after year, and has tons of access to major sports. The Barstool factor is what will drive PENN. PENN itself is nothing special. Organic users. They must do DFS. I just can’t speak to that as I’m not a sports gambler so I’ve never looked into it. But, I know Barstool sets up weird prop bets through PENN. Might be worth your while to check out Barstool because they are an X factor. Specifically, Pardon my Take - (Podcast tons of listeners) lots of NFL guys, NBA, F1, NASCAR, etc. Spittin Chiclets - NHL (2 Ex pros, Hockey world loves them) Foreplay - Golf (Golf world loves them) Starting 9 - Baseball (ex pro on the show) Dave Portnoy has a ton of shows (founder). His goal is to own an NFL team (got paid around 100-200m in stock with PENN.) This was at $30 a share. Has to hold for X years. Gonna have to be at $100-150 to buy majority of an NFL team. His shows do real well and it’s all over. Pizza Reviews, College Sports, Insta, Twitter, etc. I’d encourage you to watch/check out Barstool if you are debating. They get so much traffic / have a great reputation within the sports community. PENN is also is capitalizing off Barstool. They are making casinos and having the Barstool crew do events at them because people turn up for it. Just something to think about. I got in at $30 at IPO. Was my first purchase outside ETFs. Bought more at $8 during the weird times. Sold at $45. Sad face. I still think PENN has the brightest future out of all sports gambling companies due to the advertising infrastructure of Barstool.

Glum-Researcher1532

The only competition I see them having is PENN. Capturing marketplace through Barstool

SPCE-Rocket

I was in PENN, too many competitors coming into the space hard. Look at the Caesars commercials with the Manning’s, love those… oh got distracted. FanDuel draft Kings CZR Wynn etc etc just too many non of them are going to make any money to grow their stock. Maybe they start to acquire each other then there could be some appreciation

StonksSpurtzWhorzez

I do think PENN has a better valuation but I prefer the DKNG app. I’m a degenerative gambler who was lucky enough to buy PENN at $4 last year. I prefer these two over FanDuel and PointsBet or any other name in the space. I thought the key advantage for Barstool would be their popularity amongst people in the 18-25 year demographic, the type of guys you land and then as they get older their bet size gets bigger. Spoke with my cousin at Christmas and he said every guy in his fraternity mostly just uses DraftKings. I think this would be a good spot to start dollar cost averaging a position if you’re holding long term. I know that last sentence is probably blasphemous here.

Stonks1337

PENN is better backed up in its valuation by its financials than a draftkings is

my_fun_lil_alt

Gambling is the future of sports. As states legalize sports gambling those companies with an established presence will benefit. PENN is far more than Barstool, they are just the most visible piece. How long it takes for this to happen is unknown, could be 5 years or 15, but I think this or Draft Kings is a great long-term hold.

kk7766

Look at the daily chart of like PENN or TLRY. First 10 minutes is pure short selling to dictate daily price. And it happens every day with those stocks since Feb

Whaleoilbefuked

Some one tell me buying PENN leaps is a bad idea? I think online gambling and sports betting going to be fruitful this earnings season.

The_Collector4

its probably closer to $60M now with how $PENN has been doing

Charcooper

I may do this for at least 100 shares of PENN. Do you have any idea if I could sell today and then sell an at the money cash secured put more than 30 days out? This would effectively lock in my share price and avoid the wash sale rule

Charcooper

This is a good point. I am near my cost basis for PLTR as well. I do have some concern about being too heavily invested in one sector with my PENN and DKNG holdings but I am bullish on both at their current prices

ConfluxEng

I have PENN in my portfolio... do your own research on this, but for my two cents, PENN has a lot of potential. If you're going to trim or dump a stock, PLTR would be the one I'd recommend based on profitability, growth potential, number of red flags, etc.

Charcooper

I’m looking for opinions/advice: My realized gains for 2021 is +$5,253 My unrealized losses for 2021 are -$4,159 Would you guys realize losses to offset your gains even if you are okay with holding your position(s)? My losing positions and P/L below: 300 shares of PENN (-$3,000) 200 Shares PLTR (-$969) 3 DKNG CSPs (-$975) I’m leaning towards selling some PENN shares but would appreciate any input

Disastrous-Tap-3353

SO, Uh... CLOV, Planatir, acb, spce, tesla, PENN... hmm

TuaTurnsdaballova

Yeah I sold half of my calls end of day when I saw SPY getting resistance at the 50-day MA, luckily it retested (I sold half here) and broke through before close. Low volume in the whole markets means higher volatility and unpredictability. Probably going to play the gambling stocks through the last two weeks of the year, PENN DKNG etc.

Apha-apha

SNAP and PENN 2023 Leaps 🚀🚀

Belichick12

What sort of margin does PENN let you use at their sports books?

InverseHashFunction

One advantage is that this company operates in a space that requires a license. The closest American equivalent to them isn't DKNG or PENN, it's the Multi-state Lottery Association. But valuation is going to be key to any further bumps. This is where investors have to trust Cliff Robbins.

POOTERSS

Every day PENN is taken to the woodshed and F\*\*\*ed

LukaDeezNutz

Dkng is not the only place you can place live bets, and being able to place live bets wouldn’t boost revenue that much..There’s not many people who make live bets on stupid shit like “is the next play gonna be a run or pass play” plus they don’t bet that much money on it. I’m big on sports gambling, but I don’t think the sector will start moving consistently up until Texas or Cali legalize it. I’d rather bet on FUBO or PENN for 5 years out, but imo dkng needs to rebrand because they’re probably still seen as a DFS company by your average joe and DFS is extremely boring and high churn.

ak22801

I have PENN and they’ve been moving about the same all year…. …terrible 😭😭😭

FrequentSolution6267

I have moved away from growth stock and China stocks now for the last 3 months. Luckily I sold off all my NIO and Tesla and LCID stocks just in time. I am now into value stocks that generate cash flow like PENN, Oil stocks, Bank Stocks! You can still make your money back

investortrade

Thanks. Some of those sound good to me. QYLD, ACRE, O, F, and MSFT. F and MSFT's dividend yields are not very high (2.02% for F, and 0.77% for MSFT), but I guess those would be more for growth than dividend. I'm basically looking to maybe change my strategy because for 2021 I bought shares of companies and sold covered calls. I made $2-$6K a month selling covered call, but Nov and Dec's drop in share price of my holdings wiped out all my gains for the year (am in PYPL, ROKU, and PENN mostly right now. Although my V, and DIS are down slightly too). I recently realized some losses in WYNN, some of my PYPL shares, and MSOS to lower my 2021 tax bill. I may also sell some of my ROKU and PENN shares this week to further lower my tax bill. Not sure if I want to lock in anymore losses, or ride it out and hope for their recovery. I do think they have bottomed pretty much, and should go back up, but just not sure how long it will take.

TheHandsomeTraveler

PENN and CRSR were short puts that got assigned and I’ve been selling covered calls on them. The problem is when the stocks tank so far that it’s not worth selling covered calls anymore. I did well trading this year. It’s the buy and hold shit stocks or failed theta gang trades that are dragging me down

TheHandsomeTraveler

PENN and CRSR were short puts that got assigned and I’ve been selling covered calls on them. The problem is when the stocks tank so far that it’s not worth selling covered calls anymore. I did wel trading this year. It’s the buy and hold shit stocks or failed theta gang trades that are dragging me down

TheHandsomeTraveler

This year I have a lot of realized gains and unrealized losses. If I don’t manage my portfolio, I will have a high 4 figure tax bill I will have to come out of pocket for due to me unrealized losses. I need to start selling some losers. I think I’m going to sell my PENN, CRSR, BABA, and CRSR bags. That should cut my tax bill in half. Is anyone else in this same position? Fuck. I suck at picking stocks

kk7766

People don't realize but we had the exact same crash as the 1999 tech bubble in growth stocks like $PTON, $PENN, $WISH, $TLRY, $LMND, $ZM, $CHGG, etc. Like everyone keeps saying "this is the next dot-com bubble" but the crash legit already happened and just finished. Here is a chart of $CSCO which was the number 1 dot-com crasher in 1999....same exact chart as the stocks I just mentioned. https://i.imgur.com/H0zN2ul.png

Austinmac0

$PENN. Poor poor me

Ceoalex

Working great for DKNG and PENN

ak22801

DKNG and PENN finally had a good day today after like a week of red, Which means it’ll be back to red for the next 5 days at least.

kriptonicx

Long-term or short-term? Long-term DIS, PYPL, V, CRWD, AMZN and SHOP are probably my favourites right now. Short-term to medium-term I think UPST looks really good here. It's still expensive, but has a lot of potential to run 50-100% over the next few months. Other smaller names like PLAN, PENN & COUR also look good if you're after something with good upside potential and are able to get out at the right times. As someone who invests mostly in smaller stocks on a short to medium term time frame I'm unbelievably bullish on my portfolio right now. I'm finding so many good deals outside of the major index holdings that I've had to liquidate a decent amount of large-cap holdings which I rarely ever do as I tend to see these as long-term buy-and-hold names. For about a year I've struggled to find anything worth buying, but now I don't have enough cash to buy everything I want. Kinda gutted the market didn't drop again today if I'm honest, but hopefully we'll see some more red next week. Lots of deals to pick up this holiday.

RecklesslyPessmystic

PENN and DKNG flying, SEAH flat even tho it's worldwide and massively profitable and growing fast

silver_raichu

PENN, GME, penny stocks like EEENF and whatever stock was supposed to change their ticker to FOMO but then it never happened

Iskoot

You didn’t buy it, but he was also recommending PENN when it was over $100-110…it’s now below $50.

IWontPostMuch

I plan on selling my stake in $PENN and $DKNG for tax loss harvesting. If I take the proceeds and dump it into $BETZ immediately will this trigger a wash sale because $BETZ holds Both $PENN and $DKNG? From what I can tell from they Woolf not be considered “Substantially Identical” therefore would not be a wash, but want some confirmation my thought process from what I’m reading is correct. If it matters it’s not a large sum of money. ~$12k loss to counter ~$20k short term gains.