MGM Mirage (MGM) Momentum Accelerates As Bankruptcy Fears Calm
Down)
MGM Mirage (NYSE: MGM) is seeing accelerated momentum and pushing to the highs of the session following news after the close that its auditor has concluded that there is no longer substantial doubt about its ability to continue as a going concern.
Shares of MGM are up 15.6% on strong volume.
The announcement follows news on May 19 that MGM had completed a public offering of 164.5 million shares of its common stock at $7 per share, with proceeds of approximately $1.1 billion.
The news is also helping rival Las Vegas Sands Corp. (NYSE: LVS), which has debt problems of their own. Shares of LVS are up 7.6%.
Shares of MGM are up 15.6% on strong volume.
The announcement follows news on May 19 that MGM had completed a public offering of 164.5 million shares of its common stock at $7 per share, with proceeds of approximately $1.1 billion.
The news is also helping rival Las Vegas Sands Corp. (NYSE: LVS), which has debt problems of their own. Shares of LVS are up 7.6%.
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