MGM Resorts International ($MGM) Stock Forecast: Up 5.1% Today

What is MGM Resorts International?

MGM Resorts International, a global entertainment company renowned for its resorts and casinos, provides a variety of entertainment options. Today, the market sentiment was positive.

Why is MGM Resorts International going up?

MGM stock is up 5.1% on Sep 13, 2024 13:50

• MGM Resorts stock demonstrated a significant upward movement.
• Speculation surrounding MGM Resorts could have piqued investor interest and confidence in the company's prospects.
• The emphasis on sports betting companies in recent discussions may have indirectly benefited MGM Resorts, as the industry's positive outlook and growth potential likely influenced investor sentiment.
• The commencement of the NFL season, with an expected surge in sports betting, might have additionally fueled optimism for companies like MGM Resorts operating in the sports betting and entertainment sector.

MGM Price Chart

MGM News

Zacks Investment Ideas feature highlights: DraftKings, Flutter Entertainment, MGM Resorts and Bank of America

DraftKings, Flutter Entertainment, MGM Resorts and Bank of America have been highlighted in this Investment Ideas article.

https://www.zacks.com/stock/news/2334332/zacks-investment-ideas-feature-highlights-draftkings-flutter-entertainment-mgm-resorts-and-bank-of-america

NFL Kicks Off: Time to Bet on DraftKings?

DraftKings is a leading internet-based sports betting and fantasy platform that should benefit from sports betting legalization, rapid revenue growth, and new features such as live betting.

https://www.zacks.com/commentary/2334188/nfl-kicks-off-time-to-bet-on-draftkings

Trending Today

Ethereum ($ETH) Crypto Forecast: Up 5.3% Today

Arbitrum ($ARB) Crypto Forecast: Up 7.2% Today

Floki ($FLOKI) Crypto Forecast: Up 5.7% Today

dogwifhat ($WIF) Crypto Forecast: Up 9.4% Today

Fetch.ai ($FET) Crypto Forecast: Up 6.6% Today

The Graph ($GRT) Crypto Forecast: Up 5.4% Today

Solana ($SOL) Crypto Forecast: Up 5.7% Today

Aave ($AAVE) Crypto Forecast: Up 5.3% Today

Bittensor ($TAO) Crypto Forecast: Up 8.4% Today

Avalanche ($AVAX) Crypto Forecast: Up 5.1% Today

MGM Resorts International Price History

13.08.2024 - MGM Stock was up 5.1%

• MGM Resorts stock demonstrated a significant upward movement.
• Speculation surrounding MGM Resorts could have piqued investor interest and confidence in the company's prospects.
• The emphasis on sports betting companies in recent discussions may have indirectly benefited MGM Resorts, as the industry's positive outlook and growth potential likely influenced investor sentiment.
• The commencement of the NFL season, with an expected surge in sports betting, might have additionally fueled optimism for companies like MGM Resorts operating in the sports betting and entertainment sector.

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 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.

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 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 7.2%

• 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.

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.

06.07.2024 - MGM Stock was up 5.7%

• MGM stock experienced a strong bullish movement today.
• The positive Q2 earnings and revenue surpassing estimates contributed to the bullish trend.
• The successful performance of MGM China in the best-ever June quarter, with increased tourism and higher winning odds in Macau, also boosted investor confidence.
• Despite concerns raised about bookings for a Formula 1 car race in Las Vegas, the overall positive financial results and expansion into new markets like Michigan with BetMGM's offerings helped drive the stock price up.

01.07.2024 - MGM Stock was down 5.3%

• Despite MGM Resorts posting strong Q2 earnings and revenues that surpassed estimates, the stock saw a bearish movement, indicating a disconnect between performance and market reaction.
• MGM China's best-ever June quarter and positive financial updates were not enough to offset broader market sentiment or potential profit-taking by investors.
• The market may have reacted negatively to details in the Q2 earnings call transcript or other undisclosed factors that overshadowed the positive news about revenue growth and strategic partnerships.
• Investors might be concerned about future challenges or uncertainties facing the company, leading to a sell-off despite the positive financial performance in the recent quarter.

01.07.2024 - MGM Stock was down 5.1%

• MGM China reported its best-ever June quarter, indicating a strong performance in the region. However, despite the positive news, the stock saw a bearish movement.
• The strong second-quarter results and revenue beat posted by MGM Resorts International were overshadowed by other market factors, leading to the bearish movement.
• The release of unaudited financials and updates on the parent company's Q2 report did not seem to have a positive impact on the stock price, contributing to the bearish market movement.
• The overall market sentiment or external factors not directly related to MGM's performance might have influenced the bearish movement despite the positive news coming from MGM China and the parent company.

07.07.2024 - MGM Stock was up 6.2%

• Director Paul Salem's significant acquisition of shares in MGM Resorts International may have boosted investor confidence in the company's future prospects.
• The launch of MGM Bonus City in Michigan in partnership with Inspired Entertainment could have generated excitement and positive sentiment around the company's expansion in the online gaming market.
• Despite concerns raised about bookings for a Formula 1 car race in Las Vegas impacting the stock negatively, MGM Resorts International managed to surpass earnings and revenue estimates for the second quarter, driven by strong performances in MGM China, Las Vegas, and strategic partnerships, which likely contributed to the bullish movement in the stock today.