Prev Arrow Stocks

MGM Resorts International ($MGM) Stock Forecast: Up 5.2% Today

Morpher AI identified a bullish signal. The stock price may continue to rise based on the momentum of the good news.

What is MGM Resorts International?

MGM (MGM Resorts International): MGM Resorts International is a global entertainment company known for its resorts, casinos, and entertainment offerings. Today, the stock experienced a strong bullish movement.

Why is MGM Resorts International going up?

MGM stock is up 5.2% on Jul 11, 2024 14:43

  • The under-the-radar stocks with massive growth potential may have sparked interest in MGM, leading to increased buying activity.
  • The comparison between MGM and CHDN may have highlighted MGM as the better value stock option, attracting more investors to the company.
  • The focus on sin stocks, which tend to be recession-resistant and profitable, could have positively influenced MGM's stock performance as it falls under the category of sin stocks.
  • In conclusion, the combination of potential growth opportunities, perceived value, and the recession-resistant nature of sin stocks may have contributed to the bullish movement in MGM's stock price today.

MGM Price Chart

MGM News

Disruption Alert: 3 Under-the-Radar Stocks Primed for Massive Gains

Big-tech names have fueled recent gains but a number of under-the-radar stocks show massive growth potential. These perpetual underdogs are less well-known but have the potential to generate outsized returns. Finding these hidden opportunities can help savvy investors earn lucrative returns. There are several reasons these stocks don’t get the press attention they deserve. Some find themselves overshadowed by larger competitors while others are on the path to a recovery. Nevertheless, the sheer potential of these stocks makes them a worthy investment for the long haul. Very often these stocks are also trading at low valuations, giving investors the perfect opportunity to get in at low prices. Now with thousands of stocks to choose from, the challenge lies in finding those names that are flying under-the-radar. In other words, low-key picks with strong potential. To narrow down the stocks for this piece, I focused on companies with consistent revenue growth, trading at attractive valuations.

https://investorplace.com/2024/07/3-under-the-radar-stocks-primed-for-massive-gains/

News Article Image Disruption Alert: 3 Under-the-Radar Stocks Primed for Massive Gains

MGM or CHDN: Which Is the Better Value Stock Right Now?

MGM vs. CHDN: Which Stock Is the Better Value Option?

https://www.zacks.com/stock/news/2298630/mgm-or-chdn-which-is-the-better-value-stock-right-now

News Article Image MGM or CHDN: Which Is the Better Value Stock Right Now?

3 Scintillating Sin Stocks to Buy for Indulgent Returns

The wages of sin may be death but there is a lot of profit to be made along the way. Sin stocks are often great investments because they tend to be recession-resistant. Alcohol sales, for instance, tend not to decline during tough times because people continue to drink regardless of economic conditions. During the recession of 1990 to 1991, Constellation Brands (NYSE:STZ) gained 11% compared to the S&P 500 rising just 3%. Again in 2001, the alcoholic beverage stock gained 34% versus the benchmark index tumbling 13%. Although the pandemic era was a different story because it of its unique circumstances, the exception proves the rule. Generally speaking, sin stocks thrive during recessions. We may not be in a recession now but with the Federal Reserve stepping on the brakes to combat inflation, we may have one yet. The following three sin stocks, however, look like terrific, all-weather investments.

https://investorplace.com/2024/07/3-scintillating-sin-stocks-to-buy-for-indulgent-returns/

News Article Image 3 Scintillating Sin Stocks to Buy for Indulgent Returns

MGM Resorts International Price History

11.06.2024 - MGM Stock was up 5.2%

  • The under-the-radar stocks with massive growth potential may have sparked interest in MGM, leading to increased buying activity.
  • The comparison between MGM and CHDN may have highlighted MGM as the better value stock option, attracting more investors to the company.
  • The focus on sin stocks, which tend to be recession-resistant and profitable, could have positively influenced MGM's stock performance as it falls under the category of sin stocks.
  • In conclusion, the combination of potential growth opportunities, perceived value, and the recession-resistant nature of sin stocks may have contributed to the bullish movement in MGM's stock price today.

13.03.2024 - MGM Stock was down 5.1%

  • MGM had a bearish movement today, possibly influenced by the company seeking to block the FTC's request for cyberattack data. This move could have raised concerns among investors about potential legal implications and cybersecurity risks.
  • The completion of a $750 million senior notes offering by MGM might have also contributed to the bearish sentiment, as it indicates increased debt levels and potential financial obligations for the company in the future.
  • The overall market sentiment towards undervalued stocks could have diverted investor attention away from MGM, leading to a lack of buying interest and contributing to the bearish movement in the stock price today.

14.01.2024 - MGM Stock was down 6.4%

  • A prominent investor, known for his successful trades in the past, made some changes to his positions in semiconductor stocks, which may have influenced investor sentiment towards MGM and contributed to the bearish movement.
  • Despite surpassing expectations for fourth-quarter earnings and benefiting from the Super Bowl, MGM's stock continued to decline, possibly indicating disappointment among investors regarding the overall performance of the company.
  • The underperformance of regional casinos also had an impact on MGM's stock, overshadowing the positive numbers generated during the Super Bowl weekend.
  • Overall, the combination of the investor's bearish bet on semiconductors, the post-game disappointment, and the weakness in regional casinos likely played a role in the bearish movement observed in MGM's stock.

14.01.2024 - MGM Stock was down 5.8%

  • The bearish movement in MGM's stock today can be attributed to the following factors:
  • 1. Disappointing website traffic: Previous indicators pointed towards a positive performance for MGM Resorts in Q4. However, the actual results may have fallen short of expectations, leading to a negative market sentiment.
  • 2. Mixed earnings report: MGM Resorts reported record high earnings and an optimistic outlook in their latest call. Despite an increase in revenues at MGM China, the overall financial performance was not fully disclosed. Investors might have anticipated stronger results, contributing to the bearish movement.
  • 3. Overall market conditions: It's vital to consider broader market conditions when analyzing stock movement. If there was a general negative sentiment or adverse news within the hospitality and entertainment industry, it could have impacted the decline in MGM's stock price.
  • 4. Other factors: It's interesting to note the significant movements of other stocks like Uber, Airbnb, and Robinhood. While these stocks may not have a direct influence on MGM Resorts, overall market trends and investor sentiment towards these companies could have indirectly affected the bearish movement in MGM's stock.

14.01.2024 - MGM Stock was down 7.9%

  • The decline in MGM's stock today could be influenced by the following factors:
  • 1. Profit-Taking: After announcing strong earnings and a positive future outlook, some investors may have decided to sell their holdings to secure profits, leading to a temporary decrease in the stock price.
  • 2. Market Sentiment: Despite the favorable financial results, general market sentiment or concerns about the overall economy could have impacted the bearish movement in MGM's stock.
  • 3. Revenues at MGM China: While MGM Resorts exceeded expectations in its fourth-quarter results, the growth in revenues at MGM China might have fallen short of investors' projections, contributing to the stock's decline.
  • 4. Technical Factors: It's also possible that technical aspects, such as resistance levels or trading patterns, played a role in the bearish movement of MGM's stock.
  • In conclusion, factors such as profit-taking, market sentiment, revenues at MGM China, and technical elements may have influenced the decline in MGM's stock today.

14.01.2024 - MGM Stock was down 7.2%

  • The bearish movement in MGM's stock today can be attributed to the following factors:
  • 1. Weak Q4 Performance: MGM Resorts' website traffic indicated an upbeat Q4 performance. However, the stock's bearish movement suggests that the market may have had different expectations or concerns regarding the company's financial results.
  • 2. Updates on Material Agreements: The release of an update regarding material agreements and financial obligations may have influenced investor sentiment. The impact of these updates on the company's financial outlook could have contributed to the bearish movement.
  • 3. Market Conditions and Competitor Performance: Reports on other big stocks moving lower in the pre-market session could have created a negative sentiment in the market. This, combined with the overall market conditions, may have influenced the bearish movement in MGM's stock.
  • 4. Macau Revenue Boost: While MGM China reported a surge in revenue in the fourth quarter due to eased Covid-19 curbs, it is important to note that this news might not have had a direct impact on the bearish movement in MGM's stock today. However, it could be indicative of the overall performance of the casino industry, which may have influenced investor sentiment.
  • Overall, the bearish movement in MGM's stock today could be a result of a combination of factors, including market conditions, investor expectations, updates on material agreements, and competitor performance.

12.11.2023 - MGM Stock was up 5.1%

  • The bullish movement in MGM stock today can be attributed to several factors:
  • 1. Positive earnings report: Despite the lack of specific details in the articles provided, the mention of MGM's earnings estimates and earnings power returning to full health suggests that the company's financial performance has been favorable. This positive news likely contributed to the bullish movement.
  • 2. Market recognition: The articles highlight the market's oversight of MGM's value and growth prospects. The market may have finally recognized the company's potential, leading to increased investor interest and a rise in stock price.
  • 3. BetMGM's business update: The mention of BetMGM, MGM's sports betting and iGaming partner, targeting $500M EBITDA in 2026 could have also played a role in the bullish movement. The update indicates the potential for significant growth in the online gambling sector, which could positively impact MGM's overall performance.
  • 4. Participation in a conference: The article mentioning MGM's participation in the Morgan Stanley Global Consumer and Retail Conference could have generated positive sentiment among investors. Such events provide opportunities for companies to showcase their strategies and future prospects, potentially attracting more investors.
  • Overall, the bullish movement in MGM stock today can be attributed to positive earnings, market recognition, BetMGM's growth potential, and participation in a prominent conference.

14.10.2023 - MGM Stock was up 5.3%

  • The bullish movement in MGM stock today can be attributed to several factors:
  • 1. Positive investor sentiment: Intech Investment Management LLC increased its stock holdings in MGM Resorts International, indicating confidence in the company's future prospects.
  • 2. Avoidance of strike: MGM Resorts reached a tentative deal with Las Vegas workers to avoid a strike. This news alleviated concerns about potential disruptions to the company's operations and boosted investor confidence.
  • 3. Unusual options activity: Deep-pocketed investors have shown a bullish approach towards MGM Resorts International, which may have contributed to the upward movement in the stock.
  • Overall, the combination of increased investor holdings, the resolution of labor negotiations, and positive market sentiment likely drove the bullish movement in MGM stock today.

10.10.2023 - MGM Stock was down 5.1%

  • The bearish movement in MGM's stock today can be attributed to the following factors:
  • 1. Labor Deal with Wynn Resorts: The news of Wynn Resorts reaching a labor deal with Las Vegas unions might have created uncertainty among investors regarding the potential impact on MGM Resorts. This could have led to a negative sentiment towards MGM's stock.
  • 2. Anticipation of Revenue Boost: The article highlighting MGM Resorts' anticipation of a significant revenue boost from the Las Vegas Grand Prix might have raised expectations among investors. However, if the market perceived this anticipation as overly optimistic, it could have resulted in a sell-off of MGM's stock.
  • 3. Daily Room Cleanings and Contract Negotiations: The news about the Culinary Workers Union securing tentative labor deals with MGM Resorts and Caesars Entertainment after months of negotiations could have created concerns about potential labor costs and their impact on the company's profitability. This could have contributed to the bearish movement in MGM's stock.
  • 4. Strike Averted: The announcement of a deal between MGM Resorts and the Las Vegas hotel union to avoid a strike by hospitality workers might have been seen as a positive development. However, if investors were expecting a more favorable outcome for MGM in the negotiations, the stock could have reacted negatively.
  • Overall, the bearish movement in MGM's stock today could be attributed to a combination of labor-related concerns, market expectations, and the impact of developments in the Las Vegas hospitality industry.

03.10.2023 - MGM Stock was up 5.3%

  • MGM had a strong bullish movement today.
  • The online gambling industry is experiencing significant growth, with projections of increased revenue and a larger number of online gamblers.
  • Las Vegas casino workers have set a strike deadline, which could potentially disrupt operations in the city.
  • The strike deadline coincides with the Formula 1 Las Vegas Grand Prix, which is expected to draw a large number of guests to the Strip.
  • Despite the strike threat, MGM Resorts International has also been involved in positive initiatives, such as hosting the United Service Organizations (USO) Experience: Salute to the Troops event.
  • Overall, the bullish movement in MGM's stock could be attributed to the positive growth prospects in the online gambling industry and the company's ability to navigate potential disruptions caused by the strike threat. Additionally, its involvement in events like the USO Experience showcases its commitment to supporting the community.

02.10.2023 - MGM Stock was up 5.2%

  • The bullish movement in MGM stock today can be attributed to the following factors:
  • 1. Partnership with USO and American Airlines: MGM Resorts' collaboration with the United Service Organizations (USO) and American Airlines for the 13th Annual Salute to the Troops event at Mandalay Bay showcases the company's commitment to supporting the military community. This positive news likely generated investor optimism and contributed to the bullish movement.
  • 2. Expectations of Earnings Growth: The upcoming earnings report for MGM Resorts is anticipated to show earnings growth, according to Wall Street expectations. This positive sentiment among investors could have further fueled the bullish movement in the stock.
  • 3. Positive Industry Outlook: The articles mentioning factors setting the tone for Peloton's and Live Nation's earnings highlight the potential for a strong performance in the entertainment and hospitality industry. This positive industry outlook may have had a spillover effect on MGM Resorts, leading to increased investor confidence and a bullish market movement.
  • Overall, the combination of MGM's partnership with USO and American Airlines, expectations of earnings growth, and positive industry sentiment likely contributed to the bullish movement in the stock today.

25.09.2023 - MGM Stock was down 5.0%

  • MGM Resorts International (MGM) stock might have experienced a bearish movement due to the overall weakness in the consumer discretionary sector, as mentioned in an article from Zacks Commentary.
  • The negative sentiment towards BTC miner stocks, as mentioned in an article from Benzinga, might have also contributed to the bearish movement in MGM's stock.
  • The assessment of IAC's valuable asset, MGM Resorts shares, as a hold, as mentioned in an article from Seeking Alpha, could have influenced investor sentiment and contributed to the bearish movement.
  • While there is no direct news about MGM Resorts International in the provided articles, the overall market sentiment and factors affecting the consumer discretionary sector could have played a role in the bearish movement of the stock.

23.09.2023 - MGM Stock was up 2.9%

  • The bullish movement in MGM stock today could be attributed to a combination of factors:
  • Market Downturn: Despite a market downturn, MGM Resorts shares managed to rise, indicating resilience and investor confidence in the company's prospects.
  • Increase in Demand: The article about Hilton's upcoming earnings report suggests an increase in demand in the hospitality industry, which could positively impact MGM's business as well.
  • Positive Economic Outlook: The article discussing winning stocks and the strong labor market indicates a positive economic outlook, which could be driving investor optimism in MGM.
  • Digital Leisure Stocks: The article mentioning the growth trajectory of digital leisure stocks highlights the potential for growth in the entertainment industry, which could benefit MGM as a major player in the sector.
  • Overall, the bullish movement in MGM stock today could be influenced by market resilience, positive industry trends, and a favorable economic outlook.
i
Disclaimer
Morpher is not liable for the content of the AI investment insights. Like most GPT-powered tools, these summaries may contain AI hallucinations and inaccurate information. Morpher is not presenting you with any investment advice. All investments involve risk, and the past performance of a security, industry, sector, market, or financial product does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. These summaries do not constitute investment advice.