Auditor Favor & MGM Mirage Spike (MGM)

Posted in after-hours 
June 23rd, 2009

MGM Mirage (MGM) has spiked up in after-hours trading.  At 5:12 PM EST we have shares having closed at $5.84 and the after-hours trading is up about 8.4% at $6.33.  There has also been 1,121,322 million shares traded since the close of trading.  That is highly unusual trading in the after-hours session.  On review, its auditor has removed the old “going concern” from its report and thus given it more of an endorsement on its ability to operate.  52-week range is $1.81 to $39.50.

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