Friday, April 17, 2009

MPEL Update

I haven't been updating on this blog very much lately and thought I should update some of my top ten stocks.

Today MPEL is trading at $4.45 while I write this. When I mentioned it in my Top Ten Stocks for 2009 at the start of the year, it was trading at $3.17. That makes the stock up 40% currently.

There is still plenty of room to run. City of Dreams, the company's newest casino opens in June. The company is aiming at families with a new Hard Rock themed casino which will feature dealers dressed as rock stars. There also will be a dome theater that will feature chinese animated shows. City of Dremas will be the only new casino in Macau in the next two to three years so it should generate lots of buzz and lots of new visitors.

The stock traded around $15 in May of 2008. Look for the stock to retun to that level after the new casino opens. That would be over a double on this nice foreign stock play.

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