MLCO: Adding Melco Resorts to Investing Ideas (Long Side)

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,

KM