As the economy continues to recover from the impact of the COVID-19 pandemic, investors are keeping a close eye on the performance of gambling stocks. However, not all gambling stocks are created equal, and there are some that investors may want to consider selling in May before their value begins to decline.
One such stock is MGM Resorts International (MGM). The company, which operates casinos and resorts in Las Vegas and around the world, has been struggling to regain its footing after the pandemic forced many of its properties to shut down. While MGM has seen some improvement in recent months, its stock price has not yet fully recovered, and there are concerns about how long it will take for the company to return to pre-pandemic levels of profitability.
Another gambling stock that investors may want to steer clear of in May is Penn National Gaming (PENN). The company, which operates casinos and racetracks in the United States, has also been hit hard by the pandemic, and its stock price has yet to fully rebound. In addition, Penn National’s foray into online sports betting has not been as successful as initially anticipated, leading some to question the company’s long-term viability.
A third gambling stock to consider selling in May is Wynn Resorts (WYNN). Like MGM and Penn National, Wynn has been heavily impacted by the pandemic, and its stock price has been slow to recover. In addition, the company’s operations in Macau, a key market for Wynn, have been hampered by strict COVID-19 restrictions and travel bans. With no clear end in sight to these challenges, Wynn’s stock may continue to underperform in the coming months.
Overall, investors would be wise to take a cautious approach to gambling stocks in May, particularly those that have yet to fully recover from the impact of the pandemic. By selling off struggling stocks like MGM, Penn National, and Wynn before their value begins to decline, investors can protect their portfolios and seek out more promising investment opportunities in the months ahead.
