MGM Resorts Shares Rise, Breaking Two-Day Slump Amid Market Downturn By

© Pavlo Gonchar / SOPA Images/Sipa via Reuters Connect

In a challenging trading session on Friday, where the and indices experienced overall declines, MGM Resorts (NYSE:) International (NYSE: MGM) broke away from its recent downward trend. The company’s shares surged by 1.01% to $35.99, snapping a two-day losing streak. Despite this uptick, the stock remains significantly below its year-high of $51.35, reached on July 31, 2023.

On a day marked by general market drops, MGM’s performance stood in contrast to some of its industry peers. Las Vegas Sands Corp. (NYSE: NYSE:) saw its shares rise by 2.87%, while both DraftKings (NASDAQ: NASDAQ:) and Caesars (NASDAQ:) Entertainment (NASDAQ: CZR) reported losses of 2.94% and 1.43%, respectively.

Another notable aspect of MGM’s Friday trading was the volume of shares that changed hands. The company’s trading volume reached 5.1 million, exceeding its 50-day average volume, indicating an increased interest from investors despite the broader market downturn.

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