Repole buys 1.4% Churchill Downs stake, driving stock up 6% in Friday trade

Investing.com -- Shares of Churchill Downs Incorporated (NASDAQ:CHDN) rallied over 6% in Friday trading after billionaire entrepreneur Mike Repole revealed he has acquired 1 million shares of the horse racing and gaming operator. The equity movement offers a notable shift in momentum for the stock, which has faced headwinds over the past year and remains down approximately 11% over the last 12 months.