Why Melco Resorts Shares Popped 13.5% Today

·1 min read

Shares of Melco Resorts (NASDAQ: MLCO) jumped as much as 13.5% in trading on Tuesday after China announced it was reducing some COVID-19 restrictions. China's strict COVID-19 restrictions are starting to ease in some of the country's largest cities, and that's seen as a good thing for gambling stocks in Macao. Case numbers in Shanghai have fallen, and restrictions on dining and school have been reduced, so it's possible that travel will open up to Macao relatively soon.