Penn National, Sands Stocks Could Experience Ides of July

The S&P 500 is coming off its worst first six-month start in 50 years, and gaming stocks weren’t immune to that carnage.

Things may get worse for some gaming stocks before they get better. While the S&P 500 averaged a July gain of 1.4% over the past two decades, some casino equities have a penchant for weakness in the seventh month of the year.

On that front, the two primary culprits are already sagging Las Vegas Sands (NYSE:LVS) and Penn National Gaming (NASDAQ:PENN) – stocks that are down 6.27% and 39.32% year-to-date, respectively.

Over the past 10 years, both Las Vegas Sands and Penn National are among the 25 worst-performing members of the S&P 500 in July, according to Schaeffer’s Investment Research. The two casino operators are the only gaming equities and the only travel and leisure names on the list, which is heavily populated by energy stocks.

Source: https://www.casino.org/news/lvs-penn-are-the-gaming-stocks-that-often-slump-in-july/