MGM Mirage (MGM) opens higher despite sluggish chart

MGM Mirage (NYSE: MGM), a major casino owner on the Las Vegas Strip, reported a $750.4 million Q3 net loss after writing down its CityCenter investment.

Although MGM Mirage (MGM) stock has opened with nominal gains at $9.55 compared to yesterday's closing of $9.32, its daily candlestick is trading below 50 days MA and 200 days MA.

MGM Mirage (MGM), however, beat the analysts’ estimates in Q3 after taking off the extra ordinary expenses, even though this continued to be period in which a majority of casino owners continued to show ripple effects of a slowdown, with losses or poor profits.