Gaming and tourism stock rally slows, but vaccine hopes remain high
A day after a big rally for Nevada-based gaming stocks, optimism remains that a return to normal is on the horizon.
It’s the second straight day that rising hopes for a COVID-19 vaccine have investors reordering which stocks they see winning and losing.
Share prices rocketed Monday after Pfizer Inc. said its coronavirus vaccine is more than 90 percent effective at preventing COVID-19, though that doesn’t mean its release is imminent.
Even with positive news on a vaccine, it’s still unclear when Las Vegas’ gaming and tourism industries will recover.
Shares of Southwest Airlines, McCarran International Airport’s busiest commercial air carrier, closed up 2.10% to $44.81 per share.
Shares of Las Vegas-based Allegiant Air closed up .52% to $153.94 a share.
Meanwhile, hotel-casino company stocks had mixed results.
— MGM Resorts International closed up 2.06% to $24.78 per share
— Las Vegas Sands Corp. closed up 1.24% to $58.57 per share
— Boyd Gaming Corp. closed up .56% to $34.28 per share
— Wynn Resorts Ltd. closed down 5.46% to $96.66 per share
— Caesars Entertainment Inc. closed down 4.44% to $60.28 per share
— Red Rock Resorts closed down 2.39% to $21.21 per share
The Review-Journal is owned by the family of Las Vegas Sands Corp. Chairman and CEO Sheldon Adelson.
Contact Bailey Schulz at bschulz@reviewjournal.com. Follow @bailey_schulz on Twitter. The Associated Press contributed to this report.