After todays beat on earnings and revenues, Standard and Poors dropped 2016 earnings estimates by seven cents. Perhaps this is why the stock is down this afternoon, or it could be due to something heard on the conference call.
was the last time MGM hit 20. This morning it got up to 19.98 before retreating. Looks like MGM is finally getting some traction. A close at 20 (or higher) would be helpful.
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.