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Today we will run through one way of estimating the intrinsic value of Dropbox, Inc. (NASDAQ:DBX) by estimating the......
(Bloomberg) -- Penn National Gaming Inc. is taking advantage of its nearly three-fold surge this year, helped by its minority interest in Barstool Sports, to sell 14 million shares of its stock.The offering, underwritten by Goldman Sachs, BofA Securities and JPMorgan, will start trading on Friday, according to a person familiar with the matter. The timing means there will be no price range governing the share sale. The offering, announced early Thursday, represents 11% of the company’s public float as of Aug. 31, according to data compiled by Bloomberg.Penn’s shares traded to a record high Tuesday after analysts at Morgan Stanley said the Barstool Sportsbook betting app reached 21,000 downloads per day in its first weekend, breaking records set by competitors DraftKings Inc. and Flutter Entertainment Plc’s FanDuel.The casino operator fell as much as 9.3%, the most in three months, on news of the stock offering and after an analyst downgraded...
If you want to know who really controls Canadian Solar Inc. (NASDAQ:CSIQ), then you'll have to look at the makeup of......
Penn National Gaming announced the start of a public offering to sell 14 million shares of its common stock pushing its shares down more than 8% in Thursday’s morning market trading.As part of the offering, Penn National (PENN) will grant the underwriters a 30-day option to purchase up to 2.1 million of additional shares of its common stock. The gaming company expects to use the net proceeds from the offering for general corporate purposes, it said.Last month, Penn National reported a 2Q loss of $1.69 per share, versus the Street consensus of a loss of $2.06 per share. 2Q revenues of $305.5 million exceeded analysts’ estimates of $249.1 million.Shares in Penn National have this year increased by a whopping 170%, with the average analyst price target of $59.42 now implying downside potential of about 7.4% to current levels.Based on Wednesday’s close and assuming the issuance of the greenshoe, the transaction would raise about...
The upstart automaker also released the first images of the pickup truck's interior. ...
