FYI: The “Fastest Two Minutes in Sports” is on Saturday at Churchill Downs in Kentucky. Since the founding of the race and racetrack (in which the company draws its name) in 1875, Churchill Downs Incorporated (CHDN) has branched out to a number of other lines of business including ownership of other race tracks and casinos around the US in addition to online gambling sites. CHDN has been like Secretariat over the last decade, posting a "10-bagger" by rising more than 10x in value since its low in 2009.
So how does the stock perform around "Derby Day" specifically? In the past 20 years, the period leading up to the Kentucky Derby has typically been pretty shaky for the stock with declines in the month and week leading up to the race. Historically, in the month before the derby, CHDN has only risen 28.57% of the time with an average decline of 2.26%. The week before has been slightly better, but still declines over half the time. This year bucked the trend, though, with the stock rising 12.11% over the past month and 6.91% in the past week; similar to 2016.
Regards,
Ted
https://www.bespokepremium.com/interactive/posts/think-big-blog/churchill-downs-chdn-off-to-the-races
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