MGM Resorts ( (MGM) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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MGM Resorts International’s stock took a hit as investors showed concern over the rapid growth of Kalshi, a prediction market platform. Kalshi’s expansion into states where other sports betting platforms, including MGM’s BetMGM, are not allowed, has captured a significant market share. This development has led to a less favorable outlook for MGM compared to its competitors, according to analysts.
More about MGM Resorts
YTD Price Performance: 8.53%
Average Trading Volume: 4,565,491
Technical Sentiment Signal: Buy
Current Market Cap: $9.94B
For further insights into MGM stock on TipRanks’ Stock Analysis page.
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