harrahs casino barWith stay-at- home directives now largely lifted, a slew of regional casinos open, and Nevada gaming properties joining the fun on June 4, being bearish on gaming stocks carries immense near-term risk.(Image: Reuters)With shelter-in-place policies and casino shutdowns the orders of the day starting in March, shorting gaming equities became one of 2020’s easiest and most profitable trades…until it wasn’t.But the stock has since posted a six fold gain.t pokerThey are potentially signaling that these names and others could offer some near-term upside as bearish traders rush to cover.Regardless of industry, heavily shorted stocks can rapidly change directions, forcing traders holding bearish bets to cover those positions, which only fans bullish flames.But recently, we have seen short covering in the sector, with - million of net short covering executed over the last week.pechanga casino job fair

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wild horse pab casino expansionAs a percentage of float sold short, ERI resides north of 39 percent, according to S3 data.10 billion of net short selling in the sector from March to May, with 0 million of new short selling executed over the last month.During that time, DraftKings and Boyd were two of the four biggest problems for short sellers.golden nugget casino stockShares of Boyd trade at at this writing.There is some data suggesting short sellers in gaming stocks got a little too greedy.Surdoubledown casino slots free coinsprise ScenarioIn what can be described as surprising, the most-shorted gaming stock is Eldorado Stocks (NASDAQ:ERI).install cashman casino

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casino slot 2020(Image: KXNT Radio)In a note to clients Tuesday, Nomura Instinet analyst Harry Curtis reiterated a “buy” rating on the Orleans operator, while boosting his price target on the stock to from .But recently, we have seen short covering in the sector, with - million of net short covering executed over the last week.Duridoubledown casino slots free coinsng the COVID crisis, we have recommended that investors in US Gaming BUY two stocks ahead of regional casinos’ reopening, BYD and PENN,” said the Instinet analyst.They are potentially signaling that these names and others could offer some near-term upside as bearish traders rush to cover.Short sellers have lately begun trimming their exposure in the sector, after having shorted the sector heavily during the stay-at-home policies brought about by the Covid-19 pandemic,” said S3 Partners Managing Director Ihor Dusaniwsky in a note obtained by Casino.Recently, Curtis is consistently endorsing regional gaming equities, a thesis that’s bearing fruit as casinos in the Midwest and South come back online following the coronavirus shutdown that spanned roughly two months.free slot games download for pc