Why MGM Resorts International Stock Gained 10% Today
Shares of casino operator MGM Resorts International (NYSE: MGM) were up by roughly 10% at 10:30 a.m. EDT on Wall Street. They pulled back a little from that peak, but were still up in the high single digits by 11:30 a.m. Investors appear to be anticipating good news from the company on June 4.
On May 27, MGM announced that it would reopen some of its properties in Las Vegas on June 4, notably the iconic Bellagio, New York-New York, MGM Grand Las Vegas, and The Signature. Basically all of the company's operations had been shut down because of the global effort to contain the spread of COVID-19. However, as social distancing rules have been eased and non-essential businesses have been, slowly, allowed to reopen, MGM is hoping it can get back to business as usual as quickly as possible.
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Source Fool.com
