Resort stocks are shares of companies that operate in the travel and leisure industry, including hotels, resorts, and theme parks. This industry has been growing rapidly due to the increasing demand for travel and leisure activities. Investing in resort stocks can offer investors the potential for strong returns, but it is important to understand the risks and opportunities associated with this industry.
When investing in resort stocks, it is important to consider various factors that may impact the performance of the stock, such as changes in consumer preferences, economic conditions, and competition from other companies. As the travel and leisure industry continues to evolve, companies that are able to adapt and stay ahead of the curve can potentially benefit from growth and increased profitability.
Overall, investing in resort stocks can provide a way for investors to potentially benefit from the growth of the industry and changing trends in consumer behavior. However, as with any investment, it is important to do your research, carefully evaluate the risks and opportunities, and diversify your portfolio to manage risk. By doing so, investors can make informed decisions and potentially achieve their investment goals. The resort industry is known for its high volatility, so investors should be prepared for fluctuations in performance. Given this, here are two top resort stocks for your March 2023 stock market watchlist.
Resort Stocks To Buy [Or Avoid] In 2023
- Wynn Resorts Limited (NASDAQ: WYNN)
- MGM Resorts International (NYSE: MGM)
Wynn Resorts Limited (WYNN Stock)
Leading off, Wynn Resorts Limited (WYNN) is a global luxury resort and casino company that offers high-end amenities and services to customers. The company operates four megaresorts: Wynn Macau and Encore in Macao and Wynn Las Vegas and Encore in Las Vegas.
Last month, Wynn Resorts reported its most recent 4th quarter 2022 financial results. In the report, the company showed a loss of $1.23 per share, with revenue for the quarter of $1.0 billion. For context, analysts’ consensus estimates for Q4 2022 were a loss of $1.17 per share, with revenue estimates of $941.1 million.
In 2023 so far, WYNN stock has advanced by 32.47% year-to-date. Looking at Friday’s early pre-market trading session, shares of WYNN stock are trading slightly lower by 0.14% at $113.25 a share.
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MGM Resorts International (MGM Stock)
Second, MGM Resorts International (MGM) is another leading resort and casino company that operates a variety of properties in the United States and Asia. MGM Resorts operates as the largest resort operator on the Las Vegas Strip. Some of its notable Vegas properties include the MGM Grand, Mandalay Bay, Park MGM, Luxor, New York-New York, and Bellagio, among others.
Earlier this week, MGM Resorts International announced the appointment of Ben Winston, a renowned producer, and director, to the company’s Board of Directors. Winston, who is the founding partner of the production company Fulwell 73, has earned 12 Emmy Awards and 31 nominations. Winston’s appointment makes him the 12th member of the board, where he is expected to bring his expertise to help guide the company’s future growth and success.
Year-to-date, shares of MGM stock have surged so far by 36.03%. Meanwhile, as of Friday’s pre-market trading session, MGM stock is trading at $45.27 a share.
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