Show Me The Money: Pinnacle Stages Breakout

U.S. casino operator Pinnacle Entertainment hit a new all-time high in the stock market today after Gaming and Leisure raised its offer to acquire Pinnacle's real estate. The deal values Pinnacle shares at 47.50 and would give Pinnacle shareholders 28% ownership of Gaming and Leisure. Pinnacle gained as much as 12% in giant volume to hit a fresh high of 40.70. Shares cleared a 40.52 buy point from a price consolidation base intraday, but gave back some of those gains. Meanwhile, Gaming and Leisure sank in quick turnover on Tuesday, undercutting the prior low of a flat base with a 37.85 buy point. Gaming and Leisure leases 18 casino facilities to Penn National Gaming, which the REIT was spun off from in 2013. Penn National cleared a flat base buy point of 17.32 about a month ago and gained as much as 9% by last Thursday. Shares are now trading about 3% below that high. Monarch Casino and Resort is in buy range from a flat base with a 20.41 buy point. The stock is trading about 9% below its June 19 high. Isle of Capri Casinos shot up 38% from a flat base it cleared in early June. The stock is currently 14% below that peak. And Boyd Gaming is trading in buy range from a cup base with a 15.17 buy point.