Howard Stutz of the Las Vegas Review-Journal reports Tuesday that shares of MGM Resorts International rose nearly 7 percent after being touted by CNBC “Mad Money” host Jim Cramer.
Stutz writes, “Shares of the casino operator closed at $12.92 on the New York Stock Exchange Monday, up 81 cents or 6.69 percent after Cramer touted the Strip casino giant on his CNBC show ‘Mad Money’ on Friday.
“‘Virtually everything about MGM that used to be a negative is now a positive,’ Cramer said.
“Almost 85 million shares of MGM Resorts were traded Monday, more than three times the average daily volume.
“He added that MGM Resorts’ CityCenter development, a 50-50 joint venture with Dubai World that opened last December, ‘was the poster child for everything that was wrong with Vegas at the worst time.'”
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