Why Casino Stocks Popped Then Eased Off Today [The Motley Fool]
Alphabet Inc. - Class C Capital Stock (GOOG)
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Source: The Motley Fool
What happenedShares of casino stocks jumped in early trading today as Wall Street seemed bullish that the COVID-9 economic shutdown might end sooner rather than later. You can see in the chart below that casino stocks jumped as much as 0% as the entire industry moved sharply higher. But as the day wore on, the euphoria wore off, and the gainers were up no more than single digits at the close, which is still welcome for a beaten-down sector.CompanyChange at Daily HighAt the CloseCaesars Entertainment(NASDAQ:CZR.8%Eldorado ResortsNASDAQ:ERI0.%7.7%MGM Resorts InternationalNYSE:MGM.9%.6%Penn National GamingNASDAQ:PENN9.%UnchangedWynn ResortsNASDAQ:WYNN8.%7.%International Game TechnologyNYSE:IGT0.%.%Source: Google Finance.So whatThe market is trying to figure out when the COVID-9 shutdown of casinos will end and resorts can get back to normal. So, as the news changes every day, the market reacts as well. Monday and early today, the news seemed relatively positive with new confirmed cases o
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