Ian Cooper’s Top Stock Pick of the Week: MGM Resorts

MGM Resorts (MGM)

Over the last few weeks, we highlighted opportunity in Sunrun (RUN). 

At the time of our mention, RUN traded around $23.80 and would hit a high of $29.72.  While RUN has since pulled back to $26.82, we still like it – especially with the Inflation Reduction Act, and signs the Federal Reserve may cool it with aggressive rate hikes.

 We also highlighted Coca-Cola (KO) on January 26, as it traded at $60.30.  It would hit a high of $61.58 before pulling back to support around $60.07.  We still like the KO stock here – especially with its dividend yield of 2.93%.

Then, just last week, we highlighted Advanced Micro Devices (AMD) as it traded at $84.40.  It’s now up slightly at $85.91.  We still believe AMD can race back to $100, near-term.


As for new ideas…

With the Super Bowl just days away, keep an eye on MGM Resorts (MGM).  For one, it typically runs higher around this time of the year. Two, about 50 million Americans are expected to bet on Super Bowl LVII, according to the American Gaming Association (AGA).

Three, “Bettors plan to wager an estimated $16 billion on this year’s championship game, more than double last year’s estimates. With the expansion of legal sports betting, traditional Super Bowl wagers are expected to pass casual wagers for the first time ever.”

 “Every year, the Super Bowl serves to highlight the benefits of legal sports betting: bettors are transitioning to the protections of the regulated market, leagues and sports media are seeing increased engagement, and legal operators are driving needed tax revenue to states across the country,” said AGA President and CEO Bill Miller.

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