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Profits a Mirage as MGM posts bigger losses than expected

TAGs: first quarter losses, MGM Mirage

HennyPennySee, this is one of the problems with being a publicly traded company – the timidity of the chickens, er, investors. Analysts had predicted that MGM Mirage would post a first-quarter loss of 21 cents/share, but when the actual numbers came in at a loss of 22 cents/share, that lone penny caused MGM shareholders to go all henny-penny, yelling ‘SELL! SELL! SELL!!!” at the top of their lungs and the stock dropped 5.4%. Mmmm, I feel like chicken tonight… Read more.

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