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MGM Resorts International is a prominent hospitality and entertainment company that runs well-known resorts and casinos, mainly situated on the Las Vegas Strip. If you're interested in the gaming and leisure sector, their stock, traded as MGM on the NYSE, might be an appealing investment opportunity.
Ready to join the ranks of MGM shareholders? Start by choosing a brokerage platform that fits your money-making dreams. Deposit some cash into your account to get the ball rolling. Look up MGM Resorts International (MGM) on your platform to see what's up. Dive into the stock's price and past performance to make a wise move. Finally, place your order for how many shares you want. Keep an eye on your investment to stay in the loop on MGM's success and market buzz.
| Ticker | Company | ±% | Price | Invest | ||
|---|---|---|---|---|---|---|
| MGM | MGM Resorts Intl | -1.36% | $37.23 | Buy stock | ||
How to Buy MGM Stock
Investing in MGM Resorts International (MGM) presents an opportunity for those interested in the gaming and hospitality industry. With a strong presence and diverse portfolio of hotels and casinos, MGM is well-positioned for growth in the recovering travel and entertainment sectors. Understanding the process of buying shares is crucial before entering the stock market.
Pick a Brokerage
Before you can roll the dice on MGM Resorts International, you must first select a brokerage. Thanks to robust competition, you have no shortage of options. And because so many platforms are battling for your investment dollars, the brokerage industry has standardized many incentives such as commission-free trading.
The decision comes down to personal preference and your anticipated usage of the platform. For instance, if you don’t have the time to shadow your portfolio, you may want to choose a convenient mobile trading app. On the other hand, if you anticipate building your investing acumen over time, you should consider a more comprehensive solution.
Decide How Many Share You Want
Next you must decide how much you want to wager on MGM stock. The actual dollar amount rests on many personal factors, such as risk tolerance and budget size. You will also want to consider how much shares have already gained over the last several months. As such, a correction risk exists, which may influence your decision.
Once you have a target spend in mind, take that dollar amount and divide it by the market price of your prospective stock. Whatever is the whole number is the available share count for acquisition. For instance, if you wish to purchase $1,000 worth of MGM stock, you may acquire 26 shares ($1,000 / $38.41 = 26.03).
Some brokerages allow you to purchase fractional shares. If this is important to you, include it in your criteria of best brokers.
Choose Your Order Type
In the trading world, selecting the correct order type is essential for executing strategies effectively. Different order types have their own advantages and disadvantages, influencing your market interactions. Knowing bid and ask prices can assist in identifying optimal entry and exit points, especially when analyzing price spreads.
Bid
The bid is the highest price that a buyer will pay for a stock. It is always lower than the ask.
Ask
Conversely, the ask is the lowest price that a seller will accept. It is always higher than the bid.
Spread
The spread is the difference between the bid and ask. This is significant because market makers profit from this bid-ask spread when distributing shares to purchasing investors. Also, the spread is an indicator of market liquidity (a narrow spread usually indicates a liquid market and a wide spread suggests a less liquid market).
Limit Order
If you want to execute a trade at a specific price, you should place a limit order. This order type provides maximum control and transparency over your transactions. However, the disadvantage is that your target stock is not guaranteed to hit the price and trigger the limit order.
Market Order
On the other hand, if you want assurances that your order will go through, then the market order is your best choice. Market orders fulfill at the next available price and settle if placed within normal session hours. But the downside is that market orders execute at the price least favorable to you – buy on the ask, sell on the bid.
Stop-loss Order
A stop-loss order is essentially a protective market order. This order type automatically executes your order at either a specified price or the next available price. While this is useful during periods of market volatility, if the selloff starts at the beginning of a trading session (known as a gap-down session), you can end up selling your position at a far lower than anticipated price.
Stop-limit Order
Similarly, you can think of stop-limit orders as protective limit orders. They only execute at your predetermined price, preventing some of the nasty surprises associated with gap-down sessions. Unfortunately, no guarantee exists that your target stock will reach your specified price. If a stock never recovers, it would have been better to place a stop loss.
Execute Your Trade
Now that you have a rundown on the mechanics of stock transactions, it’s time to execute your trade. For market orders, use the following steps:
• Select action type (buy or sell).
• Enter the shares you wish to acquire (or sell).
• Place the order.
Limit orders follow an almost identical process, except for the added step of inputting the specified price following the number of shares you wish to transact.
MGM Stock History
MGM Resorts has a consistent track record of dividend payments, distributing $0.0030 per quarter from November 2021 to December 2022. Throughout this timeframe, the yields varied between 0.0073% and 0.0100%, demonstrating a steadfast dedication to providing value to investors regardless of market changes.
As of August 8, 2024, MGM Resorts' stock performance shows a closing price of $37.49, marking a 1.52% gain from the opening price of $36.92 that day. This positive movement in share price underscores the company’s resilience in a competitive market.
MGM Resorts is a notable player in the gaming and hospitality industry, with a market capitalization of $10.72 billion and 303.77 million shares outstanding. Its consistent dividend track record and recent stock performance demonstrate a well-rounded strategy towards shareholder returns and growth, positioning MGM Resorts as an interesting choice for investors.
Frequently Asked Questions
How can I buy MGM stock?
To buy MGM stock, open and fund an account with a brokerage firm, then search for MGM Resorts International and place your order. Before investing, research MGM’s financials and consider factors like fees and platform usability.
Is MGM stock a good investment?
Deciding if MGM stock is a good investment depends on market conditions, MGM’s financial health, and future prospects. As a leading global hospitality company, MGM is strong, but the travel industry can be volatile. Research thoroughly and consult a financial advisor before investing.
Does MGM stock pay a dividend?
Yes, MGM stock pays a small dividend of $0.0025 per share. While modest, it demonstrates MGM’s commitment to returning some earnings to shareholders. However, the primary benefit for shareholders likely comes from potential capital appreciation rather than dividend income, given the minimal dividend amount.
About Joshua Enomoto
His distinct writing style of distilling convoluted data into relatable and compelling narratives has earned him recognition among several investment-related publications.