Well-known media personality Dave Portnoy influences the Barstool Sports brand he founded, and a racy video of Portnoy is moving stock in a company that owns a large stake in Barstool Sports.
What happened: Portnoy held one of his “emergency press conferences” on Tuesday in which he spoke about a leaked sex tape and the impact it was having on the actions of Penn National Gaming (NASDAQ: PENN).
“Are you kidding me?” Portnoy said, telling people that it is a federal crime to view or post the video.
This is the third sex tape leak, according to Portnoy.
“So, I have sex. People know that,” Portnoy told viewers.
Expect $ penn is falling because I have a sex tape? Are you kidding me. Ps: it is a federal crime to look at it or publish it.
Double Ps: fuck it. Who cares pic.twitter.com/0iFm9d4THT
– Dave Portnoy (@stoolpresident) April 6, 2021
Related Link: Sports Brand Barstool Shines In Penn National Q4 Report
Because it is important: Penn National Gaming stock has been strong since it acquired a stake in Barstool Sports and leveraged the brand and fans for its online sports betting platform. Investors who bought Penn National Gaming shares in January 2020 have seen the shares go from $ 33 to a high of $ 142 in the last year.
Portnoy told viewers that today’s drop could be a buying opportunity for Penn National stock.
PENN price action: Penn National Gaming shares were down 5.4% to $ 101.07 at press time.
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