Overall market sentiment has been down on Melco Resorts & Entertainment Ltd (MLCO) stock lately. MLCO receives a Bearish rating from InvestorsObserver Stock Sentiment Indicator.
Melco Resorts & Entertainment Ltd has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on MLCO!
When making investment decisions, sentiment gives a good overview of what stocks investors currently favor. Sentiment incorporates short-term technical analysis into its score and does not encompass any fundamental analysis such as profitability of the company. This means that earnings updates and other news can greatly impact overall sentiment.
Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor.
InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon.
The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.
What's Happening With MLCO Stock Today?
Melco Resorts & Entertainment Ltd (MLCO) stock is trading at $8.22 as of 9:45 AM on Thursday, Feb 1, a rise of $0.41, or 5.19% from the previous closing price of $7.81. The stock has traded between $8.05 and $8.34 so far today. Volume today is less active than usual. So far 191,043 shares have traded compared to average volume of 3,371,213 shares.
More About Melco Resorts & Entertainment Ltd
Melco Resorts is one of only six licenced casino operators in Macao, the only region in China with legalized gambling. It operates Altira, a complex focused on VIP customers; City of Dreams, an integrated resort in Cotai serving both mass-market and premium-end patrons; and Mocha Clubs electronic gaming machines. In addition, the company also has a majority interest in Studio City opened in October 2015. Outside Macao, Melco also owns City of Dreams Manila in Philippines, and City of Dreams Mediterranean in Cyprus. The business mix in term of adjusted EBITDA was about 84% from Macao, and the rest largely from Philippines as of the prepandemic 2019 levels.
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