A Stock Rise in PENN has History on Its Side

26 October 2023, 1:27 PM

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By Dmitry Pargamanik

PENN Shares Could Increase Ahead of Earnings

  • 10 out of the last 12 times, PENN stock had a run up before earnings
  • Pre-Earnings Run Up Averaged 1.6% Gains
PENN is scheduled to report earnings on 2-Nov-2023. The last time Penn Entertainment reported earnings on Aug 09, 2023, the stock increased by 9.1% to close at $27.10. At its current price of $18.73, PENN post earnings drift is -30.9%. Typically, traders tended to bid up PENN shares (heading into earnings) prior to its scheduled release.

PENN Historical Pre-Earnings Run Up

As you can see from the table below, the data displays the percentage moves PENN had for the last 12 quarters around earnings. The 3 day run up into earnings is notable as it shows that the stock increased 83% of the time for an average gain of 1.6%. That was actually a better bullish play than holding PENN through earnings that saw a -3.2% decline.

PENN historical stock price movement before earnings

Go to PENN Historical Price Movements Around Earnings page



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