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At first glance, it’s natural to be apprehensive about MGM Resorts (MGM). Sure, MGM stock itself is ranked as a 40% Buy, according to the Barchart Technical Opinion indicator. Further, the technical profile suggests a continuation of the long-term trend. At the same time, the ticker faces significant economic headwinds.
I don’t need to list all the challenges associated with the devolving Iran crisis that have stymied recent progress for the casino and resorts giant. Las Vegas itself has undergone a sort of paradigm shift relative to pre-COVID norms. Factor in rising inflation and the soaring cost of energy and you have good reason to be skeptical of MGM stock, which has lost 2.47% in the trailing month.
