The sharp selloff from the article reflects a huge dislocation from actual biz fundamentals,” Prescience Point Capital Management wrote on Twitter Friday. A day later, bulls took to Twitter to defend the company’s business model amid the allegations. Penn National’s Thursday drop had shaved $2 billion off its market capitalization. Penn National shares on Friday were recently trading at $62.92, up 9.6 percent. In a lengthy Twitter video, Portnoy defended himself saying the accusations are part of a “hit piece” and “100 percent not true.” Portnoy has vehemently denied allegations of misconduct. One alleged victim, referred to as Madison, said, sex with Portnoy “was so rough I felt like I was being raped… He videotaped me and spit in my mouth and choked me so hard I couldn’t breathe.” Shares of Penn National Gaming bounced nearly 10 percent on Friday - a day after the gambling giant’s shares got hammered by reported accusations of sexual misconduct against Dave Portnoy.Ĭasino and racetrack owner Penn National - which also owns a 36-percent stake in Portnoy’s Barstool Sports website - saw its stock tumble 20 percent on Thursday after Business Insider detailed allegations from three young women including one who said she was suicidal after a sexual encounter with Portnoy. Judge tosses Barstool Sports founder’s defamation lawsuit The 25 sports media people who had the most powerful 2022īarstool Sports’ Dave Portnoy rips New York Times for gambling ‘hit piece’ Dave Portnoy cries he’d ‘be in jail’ for making Don Lemon’s Nikki Haley comments
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