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ERI - Eldorado Resorts' Acquisition Of Caesars Entertainment Could Prove Disastrous
Caesars Entertainment Inc (New) Com
The current state of the stock market has been confounding many veteran observers. Extreme market liquidity as a result of a very loose Federal Reserve has created short term imbalances and resulted in a disconnect between stock movement and economic fundamentals. A prime example is the recent trading activity of Eldorado Resorts (ERI). After peaking at $70 in February, its shares plunged 90% before bottoming at $7 a month later. Similar to peers in the travel and leisure industry, Eldorado has experienced revenue contraction due to nationwide shutdowns. While Eldorado's regional businesses may