Why Shares of Melco Resorts Jumped 27.6% in April

Shares of Asian casino giant Melco Resorts (NASDAQ: MLCO) jumped an impressive 27.6% in April, according to data provided by S&P Global Market Intelligence, as investors flooded back to the casino industry. But the news wasn't as positive in early May and there's still a long road to recovery for casino operators.

Melco Resorts has been relatively quiet since the COVID-19 crisis broke out, so last month's move wasn't driven by any company-specific news event. Instead, there are macro forces at play.

Image source: Melco Resorts.

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Source Fool.com