Why MGM Resorts Stock Cratered 14.8% Today

Earnings were great, but the market had questions about the future.Shares of casino stock MGM Resorts (MGM -14.10%) dropped as much as 14.8% on Thursday after the company reported better-than-expected second-quarter 2024 financial results. Shares were still down 14.5% at 2:30 p.m. ET.Good, but not good enoughQuarterly revenue rose from $3.94 billion a year ago to$4.33 billion, and net income fell from $200.8 million to$187.1 million on higher labor costs. But earnings per share were up $0.05 to$0.60 per ...