Las Vegas Sands [LVS] - Last Close: $35.47
Macaua casino stocks are pushing higher, and LVS is leading the way.
Over the weekend, the CEO of China's special administrative region in Macau announced plans to resume the issuance of e-visas and group tours for mainland travelers.
According to the statement, the government hopes to implement the measures by the end of Oct. or early Nov.
News of loosening travel restrictions sparked a run-up in casino stocks with a presence in the region, including Wynn Resorts, MGM, and others.
But, LVS is currently the group's top performer. It's currently the best-performing S&P 500 stock, with a 6.4% gain.
My Take: Macau is a massive growth engine for these major US casino operators. News that the region is reopening is a potentially bullish signal for these stocks.
Enveric Bioscience [ENVB] - Last Close: $4.54
Enveric Bio is moving higher after it filled a key executive vacancy.
An SEC Form 3 filing dated Sept. 9th was disclosed to the public on Friday, revealing that Enveric had appointed a new interim CFO.
According to the filling, Robert Dickey IV has been appointed as the company's interim chief financial officer.
The company also released several other regulatory filings pertaining to its annual shareholder meeting and the appointment of a new accounting firm.
ENVB is one of today's top movers with an 18.3% gain.
My Take: CFO is a key role, so it's definitely good news that ENVB found itself a qualified executive to take the roll. However, the rally seems a little overdone, and ENVB has a short rate of 5.7%, so there might be other forces at work here.
