Las Vegas Sands Corp. (LVS) stock rises in Premarket: Here’s Why

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Shares of the Las Vegas Sands Corp. (LVS) stock were rising in the premarket trading session today on January 14, 2022. LVS stock price saw a push of 9.67% to reach $41.30 a share at the time of this writing. The stock was gloomy in the previous trade and went down by 3.31% at closing.

Las Vegas Sands Corp is involved in developing owning and operating integrated resorts in Asia and United States.  LVS stock has a market cap of $28.77 billion and an 8,093,077 average trading volume. Let’s explore more about this stock to understand the current bullish sentiment.

What’s Happening?

There is no recent announcement or press release by the LVS stock today to support the bullish sentiment in the stock market. No analysts’ upgrades or increased targeted per share price of the LVS stock in recent times. It seems that the stock is rising due to some external factors or discussions between investors in the social media platforms like Reddit, Stock Twits, etc. So what do you need to know now at this point? Let’s understand some recent events of this stock.

Recent Event of LVS stock

National Hispanic Institute recently on January 12, 2021, announced the progressive leadership training program for Latino high school students in Las Vegas, along with Las Vegas Sands. This program has been made possible by a $150,000 commitment of cumulative three years from Sand Cares. NHI will build a volunteer alliance in order to lead its leadership development curriculum through funding. Furthermore, in the first year of the training program, 38 students will get a scholarship for participation in the program.

Financial View of LVS stock

In the third quarter of 2021, the company reported $857 million in revenue as compared to $446 million in the same tenure of the previous year. The operating loss in the three months ended September 30, 2021, was $316 million, lower than $523 million in the same tenure of the previous year. Net loss from the continuing operations of the LVS stock was $594 million in the third quarter of 2021. This compares to a $664 million net loss from continuing operations in the same quarter of last year. The company spent $192 million in capital expenses in the last reported quarter. By the end of the third quarter of 2021, the company had $1.64 billion in unrestricted cash balance.

Wrap Up

LVS stock is getting momentum in the stock market due to positive sentiment in social media platforms. It would be interesting to see how long this trend will persist. LVS stock gained 3.55% in the last thirty days and lost 24.86% in the last six months.

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