WYNN - Why Casino Stocks Jumped Double Digits on Wednesday
Shares of casino stocks jumped dramatically on Wednesday as casinos announced opening plans and the market moved higher overall. Shares of Wynn Resorts (NASDAQ: WYNN) jumped as much as 11.4%, Eldorado Resorts (NASDAQ: ERI) rose 11.4%, and Red Rock Resorts (NASDAQ: RRR) popped 10.7% today. Shares moved higher throughout the day with these three stocks up 10.8%, 9.7%, and 9.3%, respectively, at 3:20 p.m. EDT.
Part of the move was certainly driven by the market climbing overall and volatile casino stocks magnifying those gains. As of this writing, the Dow Jones Industrial Average is up 2% and the S&P 500 is up 1.4%, so gains are widespread across the market.
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