MGM Resorts stock sheds 1.13% and outperforms some rivals
Updated
Updated · MarketWatch · May 1
MGM Resorts stock sheds 1.13% and outperforms some rivals
8 articles · Updated · MarketWatch · May 1
The shares closed at $38.50 in a mixed US session, with the S&P 500 up 0.29% and the Dow Jones Industrial Average down 0.31%.
It was MGM's fourth straight daily decline, leaving the stock 5.96% below its 52-week high of $40.94 reached on 27 April.
Among peers, Las Vegas Sands fell 1.50% and DraftKings dropped 1.37%, while Caesars Entertainment rose 2.09%; MGM trading volume reached 6.8 million, above its 50-day average of 4.7 million.
Following a major downgrade and profit miss, is MGM's stock truly worth its premium price tag?
Can MGM's global ambitions succeed while it battles outdated technology and rising costs at home?