Up over 8% on very heavy volume. Something good's cooking.
has an article saying analysts feel MGM might sell the Mirage. Really! Selling a sure thing in exchange for building another casino in China and one in Mass. I hope it is just conjecture.
MGM stock has been in a general range of low twenties/high teens for the better part of a year. That's down from 28. It's been finding a bottom for quite a while. My guess is the next move will be up.
MGM's 14 billion dollar debt should not be increased. It's the only reason that MGM shares are sitting at 18 and change. Without the debt, MGM could pay a dividend, earnings would be much better, and the stock price would be much higher.
I find it interesting that among the big three casino stocks trading this morning, the one performing the worst is the one who will be announcing earnings in a few hours.
Over the last month, MGM has trailed the S@P by two per cent, and hasn't reached 20 since the first week of June. Is MGM becoming dead money? The chatter in this stock also has greatly decreased recently.
In the last 52 week period, MGM has usually been trading above 20; however beginning in May, it has usually been trading under 20. It has been lagging the markets over this time period, without any major news being reported, except Kirk's passing, which did little to move the stock. Does this portend a bad upcoming quarterly report? Or some other bad news not yet announced? Thoughts?
When the big money decides that AA has bottomed and is undervalued, the turn northward will be swift and powerful, as shorts will be covering at the same time new money will be pouring in. This scenario is eventually coming, the question is, sooner or later?