MGM Resorts International (NYSE: MGM) stock is down about 17% in 2026. Most of that damage has come since the beginning of June. That's a strange result for a company that just reported record second-quarter consolidated net revenues.
The explanation isn't in the company's Q2 2026 earnings report. It's in the noise surrounding a possible takeover deal. On June 1, Barry Diller's People Inc. (NASDAQ: PPLI) offered $48.30 per share for the MGM shares it didn't already own. Then on Sept. 23, Diller walked away.
