The stock price of MGM Resorts (MGM) got pummeled today by more than 12%.
The company reports that there will not be as high demand for rooms for this year's F1 race as there was last year. Management states that the cost of rooms for last year's F1 race was over $1000, and they do not expect a similar level of demand this year.
The other factor reported was that the online gaming site BetMGM has not met expectations.
https://finance.yahoo.com/news/why-mgm-resorts-stock-cratered-195639534.html
Edited on Aug 1, 2024 4:30pm
