Investors are starting to see the light, with PENN quickly surging to $26 per share off of this fall's lows. ESPN Bet is topping the iOS app charts, with 865,000 downloads in the first ~6 days. The ESPN Bet sportsbook launched this week, and the numbers are in. The market resoundingly disagreed, with frustrated investors continuing to dump their PENN stock, driving the shares into the teens. Shortly after, I laid out the back-of-the-envelope case for PENN stock to soar from roughly $25 per share to $134 in the coming years.
( NASDAQ: PENN) sent shockwaves through the industry by signing a 10-year, $1.5 billion deal to create an ESPN-branded sportsbook in August.
