Why MGM Resorts (MGM) Shares Are Plunging Today

What Happened?

Shares of hospitality and casino entertainment company MGM Resorts (NYSE:MGM) fell 11.7% in the afternoon session after the company reported weak third-quarter earnings. Its Casino revenue missed, and its EBITDA fell short of Wall Street's estimates. Overall, this was a softer quarter.

The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Is now the time to buy MGM Resorts? Access our full analysis report here, it’s free.

What The Market Is Telling Us

MGM Resorts’s shares are not very volatile and have only had 7 moves greater than 5% over the last year. Moves this big are rare for MGM Resorts and indicate this news significantly impacted the market’s perception of the business.

MGM Resorts is down 19.3% since the beginning of the year, and at $36.69 per share, it is trading 23.2% below its 52-week high of $47.78 from March 2024. Investors who bought $1,000 worth of MGM Resorts’s shares 5 years ago would now be looking at an investment worth $1,287.

Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefitting from the rise of AI, available to you FREE via this link.