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Why MGM Resorts Stock Jumped 5.7% Today

TheMotleyFool

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Shares of casino operator MGM Resorts (NYSE: MGM) jumped as much as 5.7% in morning trading on Wednesday as investors pushed gambling stocks higher. Shares were up 5.5% at 10:55 a.m. ET, testing highs for the day.

There are a few dynamics at work today that may be tailwinds to MGM Resorts. The most important is falling interest rates as the omicron variant spooks the market. In the last month, 10-year government bond yields have fallen 7 basis points, which helps growth stocks and could keep MGM's borrowing costs low over the long term.

Image source: Getty Images.

Source Fool.com

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