Why Penn National Stock Has Lost Its Luster
In the gambling industry, there isn't a lot of hiding what you are as a company. When Penn National Gaming (NASDAQ: PENN) became a favorite pandemic growth stock in 2020, it was surprising to me as a longtime gambling industry observer. Penn National has traditionally been a well-run company, but it wasn't in a particularly attractive market position versus companies with exposure to the Las Vegas Strip, Macao, or Japan.