Below is a note written by CEO Keith McCullough on why we're adding Melco Resorts (MLCO) to the long side of Investing Ideas today:

Yes, we buy the damn dips in things we like (like Treasuries)...

With Gaming stocks getting hammered today on MGM's quarter, we're getting an immediate-term #oversold signal in one of Todd Jordan's favorite longs right now, Melco Resorts (MLCO).

Here are a few bullet points from Jordan's recent Institutional Research note on Macau:

  • We’re maintaining our +6 to +9% GGR YoY growth estimate for February, which would put GGR up a little when combined with January
  • Overall, we prefer MLCO and LVS on the long side given the mass exposure.  MLCO should report a strong Q4 next week

Buy on red. Don't chase charts,