Amid a challenging trading session marked by overall declines in the S&P 500 and Dow Jones indices, MGM Resorts International (NYSE: MGM) saw a positive turn in its fortunes on Friday. The company’s shares experienced a notable uptick of 1.01%, closing at $35.99, effectively ending a two-day losing streak. However, it’s important to note that despite this rebound, MGM’s stock remains significantly below its year-high of $51.35, which was achieved on July 31, 2023.
In contrast to some of its industry peers, MGM’s performance on Friday was a standout. Las Vegas Sands Corp. (NYSE: LVS) reported a 2.87% increase in its shares, while DraftKings (NASDAQ: DKNG) and Caesars Entertainment (NASDAQ: CZR) experienced losses of 2.94% and 1.43%, respectively.
Another noteworthy aspect of MGM’s Friday trading session was the substantial volume of shares traded. The company’s trading volume reached 5.1 million, surpassing its 50-day average volume. This heightened trading activity suggests an increased interest from investors, even in the face of the broader market’s downturn.