MGM Grand Hotel and Casino Symbol MGG | Stock Discussion Forums

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Non-Tech MGM Grand Hotel and Casino Symbol MGG

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To: Janet Madison who wrote (67)	1/1/1998 3:00:00 PM
From: Steven W.	of 96

Janet, I think you will see a short term bounce back to $40 in January. This is a great long term stock to own. The MGM and NYNY are doing great. The NYNY is doing the best of any casino in Las Vegas. They will be either selling more shares in the short term to pay for the Detroit Casino or taking on more debt. I would think since the stock is below $39.50, (the last issue price of outstanding stock) they would want to push the stock price back around $40. This stock also has a ton of new Strong Buy recommendations on it. I plan on getting back in very soon. I think at the current levels the downside risk is less then the upside potential. Steve

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To: Steven W. who wrote (68)	1/4/1998 9:38:00 PM
From: UNDERTAKER	of 96

How much is Ted Turner involved with MGG, And in what role?

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To: UNDERTAKER who wrote (69)	1/5/1998 9:01:00 PM
From: Steven W.	of 96

Ted, I don't know the anwser that question. This stock can't seem to make up it's mind on direction. I feel the pressure is to the upside. Still haven't bought in yet. Steve

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To: Steven W. who wrote (70)	1/5/1998 11:58:00 PM
From: UNDERTAKER	of 96

I'm like you sitting on the fence.

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To: UNDERTAKER who wrote (71)	1/9/1998 12:14:00 PM
From: Steven W.	of 96

Got back into MGG today. I probably jumped the gun, but at $34.3625, the upside looks better than the downside. This month is going to be rocky for stocks. I'm holding on for at least $40. At estimates of $2.25 for the year, this is looking pretty good. Best of Luck, Steve

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To: Steven W. who wrote (72)	1/11/1998 1:55:00 PM
From: UNDERTAKER	of 96

I'm waiting to see how this Asian thing gets played out. Casino stock earnings will be affected greatly by the Asian outcome. Casino paper might evan be a good short in the coming months.

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To: UNDERTAKER who wrote (73)	1/17/1998 5:46:00 PM
From: Steven W.	of 96

This stock is going up. Earnings look good and lots of cash. I guess $34 looks pretty good right now. $45 is not far off. Steve

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To: Steven W. who wrote (74)	1/17/1998 9:12:00 PM
From: UNDERTAKER	of 96

Hi Steve $45 would be just dandy. The company has nice cash flow to boot.

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To: UNDERTAKER who wrote (75)	1/29/1998 2:02:00 PM
From: battle beast	of 96

I have concluded that MGG is the Rodney D. of casino stocks. Earnings came out today at 58 cents (which is really good) but no explosive gains on an up day.

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To: battle beast who wrote (76)	2/3/1998 7:50:00 AM
From: Steven W.	of 96

Mr. Beast, MGG usually does nothing after earnings are released. When they do beat the street, a few days later the buyers come in. MGG is under pressure because of vacant rooms in Las Vegas. This will not effect the MGG in the near term because of NYNY being hot and Marriott recommending MGM Grand in their reservation system. I love trading this stock. This company stock price is way undervalued. It is a $50 stock. At $2.20 esp past earnings and even higher for future earnings. I bought some yesterday, I am holding these shares for a while. Hold for a year and you should be happy as long as there is not major stock market event. Just my thoughts. Steve

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