How Is The Market Feeling About MGM Resorts Intl?
Portfolio Pulse from Benzinga Insights
MGM Resorts Intl (NYSE:MGM) has seen a 22.73% increase in short interest, now at 11.30 million shares or 4.59% of its float, indicating a bearish market sentiment. This compares to a peer group average of 4.15%. Short interest can signal market views on a stock, with increases often seen as bearish. However, rising short interest can also present bullish opportunities under certain conditions.
March 13, 2024 | 6:00 pm
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MGM Resorts Intl's short interest has increased by 22.73%, indicating a bearish market sentiment. This is higher than its peer average, suggesting potential underperformance compared to its peers.
The increase in short interest for MGM Resorts Intl suggests that investors are becoming more bearish on the stock. This is further emphasized by the fact that MGM's short interest is above the peer group average, potentially indicating that the stock may underperform relative to its peers in the short term. However, it's important to note that high short interest can sometimes lead to bullish scenarios if the stock price starts to rise, leading to a short squeeze.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100