Did someone say casino?! Probably not… especially because I know a lot of you are wondering how I can be talking about casinos when there’s not much going for them.
But what if I told you I’ve found some undervalued casino stocks that not enough people are talking about?
Now, I know that there’s a lot working against casino stocks right now. Coronavirus cases are climbing again and we could see another round of travel restrictions. (And the first round hasn’t even been fully lifted!)
And, yes, I know that part of the casino trade is China. Chinese stocks are dipping… and casino stocks have inherent exposure to Macau — “the Las Vegas of Asia.”
And yes, I know that casino stocks have never really rallied or bounced back at all, with the exception of MGM Resorts International (NYSE: MGM). And that increase was largely due to a deal between Amazon and MGM Studios.
With all of that working against them, why am I gambling on these undervalued casino stocks?
Because people are degenerates — and not the Reddit kind.
Now, don’t get offended by the above statement. Here’s what I mean:
When people can travel, and I don’t just mean to Vegas, but internationally, what are they going to do?
They’re going to party, drink and gamble. They’re going to go and spend or bet all of the free money they’ve taken from the stock market over the past year, or that the Federal Reserve has printed or from assets they’ve sold…
And why? Because people are degenerates. They just are. They like to party.
And to get ready for that, I’ve picked four undervalued casino stocks that could profit from all this partying. Two of them are stocks you wouldn’t even bat an eye at because the charts…
Not so sexy.
I’m talking about Melco Resorts & Entertainment (Nasdaq: MLCO) and Las Vegas Sands Corp. (NYSE: LVS).
And as I said, their daily charts are nothing to brag about at all. But I am seeing massive institutional call buying… and I’m looking ahead.
To get my other two undervalued casino stocks, check out my short video below. Make sure to like and subscribe to our YouTube channel and let me know in the comments what you think about casino stocks.
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