MGM Resorts International Ord Shs (MGM)
$16.16 0.22 (1.34%)
19:59 EDT MGM Stock Quote Delayed 30 Minutes
Previous Close $16.16
Market Cap 9.00B
PE Ratio 4.80
Volume (Avg. Vol.) 18.15M
Day's Range 15.98 - 16.45
52-Week Range 5.90 - 34.63
Dividend & Yield 0.47 (2.91%)
MGM Stock Predictions, Articles, and MGM Resorts International Ord Shs News
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MGM Resorts has seen its luck run cold as Covid-19 has entered a second wave. However, this is a good time to take advantage of the correction.
Consider these 5 names sin stocks to buy as 'shelter-in-place' winds down, and we 'return to normal, and all that entails, good and bad.
By Joel Baglole
Investors interested in betting on MGM Resorts would be well-advised to wait until a vaccine is developed for Covid-19.
MGM stock purportedly has a market value of $50, but it's near-term value depends on when customers will come back after the pandemic.
A possible alternative for anyone who absolutely must make a bet on MGM, and doesn’t want to buy BJK, would be to invest in the Invesco S&P 500 Equal Weight Consumer Discretionary ETF (NYSEARCA:RCD), which gives you 61 S&P 500 consumer discretionary stocks, all equal-weighted, and rebalanced four times a year in March, June, September, and December.
As 'second wave' fears accelerate, MGM stock may head lower in the near-term. But cpnsider buying the shares on weakness.
MGM stock remains attractively valued but fears of a next virus wave are weighing heavily on the highly encumbered casino operator.
MGM stock doesn't have a clear picture on the charts, while its revenue remains at risk with a jump in coronavirus cases.
Here are three hotel stocks to buy in long-term portfolios as the travel industry continues to recover from the pandemic.
MGM stock should get a boost when its other casinos open. July 4th weekend will show whether or not crowds are returning and if MGM can recover.
MGM has a relatively low exposure to Macao which could benefit its revenues. However, a second Coronavirus wave could cripple MGM stock
Yet, this may be a reason to buy shares now. With risks more than priced-in, potential share price upside from a recovery trumps these downside risks. Don't bet the ranch, but consider MGM stock a buy at today's prices.
Although the reopening of casinos is a positive narrative for MGM stock, your best bet at this time is to consider gambling-related ETFs.
Leisure destinations are reopening with new health and safety protocols and at limited capacity. With its casinos among those, MGM stock may be vulnerable to fears about a second wave of Covid-19 cases.
Despite some reservations, investors should look for modest growth in MGM stock while the gambling industry regains its footing.
Hotel stocks may get a bigger boost as consumers become less wary and begin booking vacations and in the months ahead.
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