MGM Resorts stock rises 1.78% and outperforms competitors
Updated
Updated · MarketWatch · May 8
MGM Resorts stock rises 1.78% and outperforms competitors
5 articles · Updated · MarketWatch · May 8
The shares closed at $38.79 on Friday, while the S&P 500 gained 0.84% to 7,398.93 and the Dow Jones Industrial Average edged up 0.02%.
MGM finished 5.25% below its 52-week high of $40.94, reached on 27 April. Las Vegas Sands fell 1.25%, while DraftKings rose 1.19% and Caesars gained 0.94%.
Trading volume was 3.8 million shares, about 964,663 below MGM's 50-day average of 4.7 million, indicating the advance came on lighter-than-usual activity.
MGM's stock is rising despite a major earnings miss. Is the market ignoring fundamental weakness?
With valuations showing MGM as both a bargain and overpriced, what is the company's true worth?
Can MGM's new Vegas deals and future Osaka resort offset its sharp drop in profitability?