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Is Barstool Founder Dave Portnoy’s Stock Advice Illegal?

As prominent figure in sports media, Portnoy shares his “Davey Day Trader” videos on Twitter to his 1.8 million followers and often discusses several stocks that he follows, one of which is Penn.

Kate Constable

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Dave Portnoy

Dave Portnoy, founder of Barstool Sports, could come under scrutiny by the Securities and Exchange Commission for manipulation and insider trading.

Portnoy has voiced via Twitter that he owns stock in Penn National Game, a company that purchased 36% of Barstool Sports in January. While ownership of the stock is not illegal, using his social media platforms to promote or advertise the stock could become of concern, according to an article published by Front Office Sports.

As prominent figure in sports media, Portnoy shares his “Davey Day Trader” videos on Twitter to his 1.8 million followers and often discusses several stocks that he follows, one of which is Penn.

Front Office Sports recently cross referenced several of Portnoy’s tweets mentioning Penn with the company’s stock on each of those days, finding that the stock saw average gains of 6.4%, which could be considered manipulation based on his celebrity status.

Insider trading could also be potentially problematic for Portnoy because of his stake in Penn and knowledge of how the company is doing. The SEC legislates that sharing any of that information publicly is illegal because of the impact it has, both up and down, on a stock value.

Sports Radio News

FOX Sports Radio Broadcasting Live From Arizona & Las Vegas For Super Bowl Week

Jordan Bondurant

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Sports radio will descend upon Glendale, Arizona and the greater Phoenix area next week for Super Bowl LVII, and FOX Sports Radio will be out in full force.

FOX Sports Radio announced Thursday that Dan Patrick, Colin Cowherd, LaVar Arrington, Brady Quinn, Jonas Knox, Doug Gottlieb, Steve Covino, Rich Davis, Chris Broussard and Rob Parker will all be live from either radio row, State Farm Stadium or Scottsdale Stadium starting Monday.

Dan Patrick and his crew will be at Scottsdale Stadium, which is the spring training home of the San Francisco Giants and the Scottsdale Scorpions of the Arizona Fall League. Colin Cowherd will broadcast two shows from State Farm Stadium, site of this year’s Super Bowl, on Thursday and Friday.

The rest of the FSR names mentioned above will all be doing their respective shows from radio row at the Phoenix Convention Center.

FOX Sports Radio also announced Jason Smith and Mike Harmon will broadcast from the Wynn Las Vegas resort on Thursday and Friday. They will have a strong focus on all things betting with regards to the Super Bowl.

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Sports Radio News

Alpha Media Ends San Antonio Sports Star Simulcast, 1250 AM Goes All ESPN Radio

“Alpha launched Sports Star on 94.1 back in June of last year, giving San Antonio its first FM sports talk station.”

Jordan Bondurant

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San Antonio now has a frequency where people can find local sports talk and the full ESPN Radio lineup.

RadioInsight reported owner Alpha Media has tweaked what was on 1250 AM, launching it as ESPN 1250. The station will be San Antonio’s 24/7/365 home for ESPN Radio. That will include NBA, NFL and MLB play-by-play on top of talk.

San Antonio’s Sports Star had been simulcasting on 1250, but Alpha will carry on with live and local programming on the stronger FM frequency. Alpha launched Sports Star on 94.1 back in June of last year, giving San Antonio its first FM sports talk station.

Sports Star is the home of the Dallas Cowboys and Texas Rangers in San Antonio.

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Sports Radio News

ESPN Radio 94.1 Sells Station Naming Rights To Priority Automotive Group

“The programming on the station does not change.”

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Max Media has found an interesting new revenue stream in Virginia Beach. ESPN Radio 94.1 has sold its naming rights. The station has rebranded as Priority Auto Sports Radio 94.1 ESPN.

“This is an important partnership for us,” said Priority Automotive COO Matt Elmer. “At Priority Automotive we think sports ties everyone together, so this is a great opportunity for us to be a voice in the community and partner with the number one voice for sports in Hampton Roads, ESPN 94.1.”

The programming on the station does not change. Listeners in the 757 will still hear the nationally syndicated ESPN Radio lineup except for in afternoon drive when The Tim Donnelly Show is on the air.

“The partnership between ESPN 94.1 and Priority Automotive is a natural evolution for both companies,” President and Market Manager Keith Barton added. “From the many youth organizations to college teams, Priority Automotive Has been dedicated to sports in Hampton Roads for decades. Max Media is incredibly proud to be partnered with such a class organization.”

Priority Automotive owns 17 car dealerships across Virginia.

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