Here's My Top Stock to Buy in September
Shares in MGM Resorts (NYSE: MGM) have soared 38% year to date, as investors buy into the company's recovery story. Like with all casino operators, the 2020 coronavirus pandemic was a rough ride. But MGM used the crisis as an opportunity to strengthen its business model and create an industry-leading sports betting platform. Let's explore the reasons why it's not too late to bet on the stock.
Second-quarter revenue surged 683% year over year to $2.3 billion, and MGM reversed a $936 million loss last year to post net income of $90.3 million in the period. MGM is enjoying easy comps against 2020, but there is still more work to be done. Sales are still down 30% against 2019. But operating margins are essentially the same at 12%, which is impressive considering potential lingering impacts from the pandemic (this could include more sanitation expenditure, COVID testing, and similar costs).
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Source Fool.com
