$MGM
Looking at MGM it has gained 215% since covid crash.
The high around $19 was instantly rejected a few days ago and we have seen prices fall again.
The the question remains.... "how much more value can you try and extract trying for higher highs right now?
You are still risking casino openings flop.
You are risking lock downs happening again.
You are risking casinos have to burn through cash due to lack of customers.
You are risking weekend 2nd week of rioting & protests on the strip. I didn't go back to my apt this weekend because of the protests, I'm certainly not going to drop a few grand in Vegas while cars n shit are burning outside the Luxor.....
Personally I believe the value and money to be had was 2 months ago. Not in an uncertain limbo phase. Id wait to buy above $21.50 at this point and keep a $14.50 stop loss if Im currently holding.
Looking at MGM it has gained 215% since covid crash.
The high around $19 was instantly rejected a few days ago and we have seen prices fall again.
The the question remains.... "how much more value can you try and extract trying for higher highs right now?
You are still risking casino openings flop.
You are risking lock downs happening again.
You are risking casinos have to burn through cash due to lack of customers.
You are risking weekend 2nd week of rioting & protests on the strip. I didn't go back to my apt this weekend because of the protests, I'm certainly not going to drop a few grand in Vegas while cars n shit are burning outside the Luxor.....
Personally I believe the value and money to be had was 2 months ago. Not in an uncertain limbo phase. Id wait to buy above $21.50 at this point and keep a $14.50 stop loss if Im currently holding.