The well-known media personality Dave Portnoy is influential for the Barstool Sports brand he founded, and a cheeky video by Portnoy is transferring shares in a company that has a large stake in Barstool Sports.
What happened: Portnoy gave one of his “emergency press conferences” on Tuesday, where he discussed a leaked sex tape and the impact it had on the actions of the Penn National Gaming (NASDAQ: PENN).
“Are you kidding me?” Portnoy said, telling people that it is a federal crime to watch or post the video.
This is the third sex tape leak, according to Portnoy.
“So, I have sex. People know that,” Portnoy told viewers.
Wait $ penn is it falling because i have a sex tape? Are you kidding me. Ps – It is a federal crime to watch or post.
Double Ps – I fuck. Who cares pic.twitter.com/0iFm9d4THT
– Dave Portnoy (@stoolpresidente) April 6, 2021
Related link: Bar stool sports brand shines in Penn National’s fourth quarter report
Because it’s important: Penn National Gaming’s shares have performed strongly since acquiring a stake in Barstool Sports and leveraging the brand and many followers for its online sports betting platform. Investors who bought Penn National Gaming stock in January 2020 saw the stock drop from $ 33 to $ 142 last year.
Portnoy told viewers that the fall today could be a buying opportunity for Penn National’s shares.
PENN price action: Penn National Gaming’s shares fell 5.4% to $ 101.07 at the time of publication.
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