Market behavior of gaming stocks: An analysis of the first twenty years.
Gaming stocks have now been publicly traded on the stock exchange for about twenty years. This study looks at the price movement patterns of gaming stocks compared with the broader market for six stock market cycles between 1973 and 1992. The study suggests that gaming stocks tend to be more volatile than the market as a whole and that this has been true throughout the twenty year period. It also shows that gaming stocks have risen in price during this period at a rate much greater than that for the general market. Special events, such as the establishment of gaming in New Jersey, can cause the gaming stocks to move in a direction opposite to the general market. Finally, the findings indicate that gaming stocks are especially susceptible to stock market declines which are related to concerns about the price or availability of oil.
Department of Public Administration, University of Nevada, Las Vegas, 4505 Maryland Parkway, 89154, Las Vegas, NV.
L E
LE
Goodall