MGM Resorts International (MGM) Moves Higher on Volume Spike for April 24

Equities Staff |

MGM Resorts International (MGM) traded on unusually high volume on Apr. 24, as the stock gained 2.08% to close at $29.00. On the day, MGM Resorts International saw 14.5 million shares trade hands on 51,608 trades. Considering that the stock averages only a daily volume of 8.92 million shares a day over the last month, this represents a pretty significant bump in volume over the norm.

Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.

The stock has traded between $30.62 and $21.12 over the last 52-weeks, its 50-day SMA is now $27.05, and its 200-day SMA $26.58. MGM Resorts International has a P/B ratio of 2.68. It also has a P/E ratio of 14.8.

MGM Resorts International is a holding company. The Company through its wholly-owned subsidiaries, owns and operates casino resorts. Its offerings include; gaming, hotel, convention, dining, entertainment, retail and other resort amenities.

Headquartered in Las Vegas, NV, MGM Resorts International has 75,000 employees and is currently under the leadership of CEO James Joseph Murren.

For a complete fundamental analysis analysis of MGM Resorts International, check out Equities.com’s Stock Valuation Analysis report for MGM.

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To get more information on MGM Resorts International and to follow the company’s latest updates, you can visit the company’s profile page here: MGM’s Profile. For more news on the financial markets and emerging growth companies, be sure to visit Equities.com’s Newsdesk. Also, don’t forget to sign-up for our daily email newsletter to ensure you don’t miss out on any of our best stories.

All data provided by QuoteMedia and was accurate as of 4:30PM ET.



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