It Seems Melco Resorts & Entertainment Light (NASDAQ:MLCO) Will Go Down. Just Reported More Shorted Shares

February 15, 2018 - By Michael Collier

 It Seems Melco Resorts & Entertainment Light (NASDAQ:MLCO) Will Go Down. Just Reported More Shorted Shares

The stock of Melco Resorts & Entertainment Light (NASDAQ:MLCO) registered an increase of 5.91% in short interest. MLCO’s total short interest was 3.23 million shares in February as published by FINRA. Its up 5.91% from 3.05 million shares, reported previously. With 2.15 million shares average volume, it will take short sellers 2 days to cover their MLCO’s short positions. The short interest to Melco Resorts & Entertainment Light’s float is 1.4%.

The stock increased 2.67% or $0.75 during the last trading session, reaching $28.83. About 1.61M shares traded. Melco Resorts & Entertainment Limited (NASDAQ:MLCO) has risen 60.20% since February 15, 2017 and is uptrending. It has outperformed by 43.50% the S&P500.

Melco Resorts & Entertainment Limited, through its subsidiaries, develops, owns, and operates casino gaming and entertainment casino resort facilities in Asia. The company has market cap of $15.69 billion. It owns and operates City of Dreams, an integrated casino resort that has 500 gaming tables and 800 gaming machines; approximately 1,400 hotel rooms and suites; a wet stage performance theater with approximately 2,000 seats; approximately 30 restaurants and bars, and 150 retail outlets; and recreation and leisure facilities, including health and fitness clubs, swimming pools, spa and salons, and banquet and meeting facilities. It has a 45.98 P/E ratio. The firm also operates Altira Macau, a casino hotel, which has approximately 112 gaming tables and 56 gaming machines; 230 hotel rooms; various fine dining and casual restaurants, and recreation and leisure facilities; and various non-gaming amenities comprising spa, gymnasium, outdoor garden podium, and sky terrace lounge.

More notable recent Melco Resorts & Entertainment Limited (NASDAQ:MLCO) news were published by: Seekingalpha.com which released: “Melco Resorts & Entertainment – Time To Cash In Your Chips” on April 27, 2017, also Seekingalpha.com with their article: “Melco Resorts & Entertainment’s (MLCO) CEO Lawrence Ho on Q3 2017 Results …” published on November 04, 2017, Seekingalpha.com published: “Melco Resorts plays it cool on Japan” on May 10, 2017. More interesting news about Melco Resorts & Entertainment Limited (NASDAQ:MLCO) were released by: Investorplace.com and their article: “Melco Resorts & Entertainment Ltd(ADR) (MLCO) Is Quickly Becoming the King of …” published on July 25, 2017 as well as Seekingalpha.com‘s news article titled: “The Tactical Opportunity In Melco Crown Entertainment” with publication date: February 27, 2017.

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