Buy the Penn Sex Tape Dip, Barstool's Portnoy Says

  • Stock Market News
Buy the Penn Sex Tape Dip, Barstool's Portnoy Says
Credit: © Reuters.

By Christiana Sciaudone -- Penn National Gaming (NASDAQ: PENN ) fell nearly 6% after reports of a sex tape circulating featuring Barstool Sports founder Dave Portnoy.

This would be the third sex tape featuring Portnoy, who held an emergency press conference minutes ago acknowledging the videos and questioning the wisdom of selling off stock as a result. He suggested buying the dip during the expletive-laced rant.

Shares of Penn have rallied more than 900% over the past 12 months through a high in February as more and more states have legalized online sports gambling, and despite a drop in the number of sporting events thanks to Covid-19.

Penn finalized its deal to buy Barstool early last year.

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