The House Always Wins
WYNN Resorts to me is a stock of interest here in the short term. The issues that company has faced and his facing in Macau are no secrets; the stock has suffered dramatically because of Macau. Since hitting a high of $250 in March of 2014, it’s been all downhill since.
Things got interesting in December when WYNN was removed from the Nasdaq 100, probably due to the stock’s performance, but at the same time, Stephen Wynn (CEO, etc.) bought 1 million shares in the open market.
The indices have a habit of removing stocks after the stocks have suffered huge drawdowns and include them after years of serious outperformance, think of Apple’s recent inclusion to the Dow Jones in March of 2015. Many stocks that get booted from the indices perform better immediately after than those that replaced them in the index.
Bottom line, WYNN is a long candidate as long as it stays above $64.
This information is issued solely for informational and educational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. None of the information contained in this blog constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable for any specific person. From time to time, the content creator or its affiliates may hold positions or other interests in securities mentioned in this blog. The stocks presented are not to be considered a recommendation to buy any stock. This material does not take into account your particular investment objectives. Investors should consult their own financial or investment adviser before trading or acting upon any information provided. Past performance is not indicative of future results.
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