August 13, 2020

Penn Flipping

The edgy, fierce, and new king of Gaming is here. Goldman Sachs analysts finally announced today that they are bullish on PENN National Gaming (NASDAQ: PENN). PENN owns several casinos, 36% of Barstool Sports, and countless other properties. 

Goldman reports that they believe the stock can reach $60 by the end of the year, representing a near 20% increase.

The company has reported stronger than expected turnouts in their reopened casinos after COVID19 and hope to continue this growth trend.

2 Trillion What Now?

After announcing their bundling of subscription services, shares of Apple (NASDAQ: AAPL) peaked out near $461 a piece. The crazy part is that once it hits the tag of $467.77 per share, the world will have its first company with a $2 trillion market cap. 

Our Analysts can’t actually comprehend what that means, so we’re not even going to try to help you comprehend it, other than to say it's about equal to the 8th largest GDP on the planet--Italy’s.

That’s a spicy meatball.

Free Stuff!

Scroll To The Bottom And Find Your Link!

Running for the Hills

In the premarket session today, shares of Peloton (NASDAQ: PTON) were trading down nearly 4% after there was talk that Apple (NASDAQ: AAPL) would be releasing its own subscription fitness service. 

Although shares quickly recovered, it will be interesting to see the long term impact that competition from one of the big dogs might have on the company.

What are LEAPS?

Calls with long dated expirations, more than 9 months or so, are called Long Term Equity Anticipation Security. Since it’s such a mouthful, everyone just talks about them as “LEAPS.” 

You can use these bad boys to simulate ownership of 100 shares of a company for cheaper than it would be to buy the shares outright. There are a couple catches, though.

The first is that you get no dividend, because you don’t actually own the shares. The second is that they are a decaying asset; they lose value to time decay. Even with these two things, though, they can be a good solution to get in on the gains of a highly priced stock.