Wynn stock

So tempted to buy Wynn today down in the low $180's...the only thing that scares me is a PE of the low 40's fr Wynn and the low 20's for LVS. There's a lot of expectations still built into WYNN. Thoughts?

 

Buy Wynn after they have a shitty one-off quarter because their bacc hold was way below average or something like that.

Problem is, without Steve on the calls, who knows what they're going to be like.

ETA: I see DB had a note today that's the reason for the dump. There should be support $175 - $180. you could take a little here with a stop underneath that range. Even the guy who put out the note has a $215 target.

I don't follow Wynn closely anymore. If I was gonna buy some, I'd want a much bigger drop for some reason I thought was unjustified.

 

I am just pissed that I didn't pull the trigger when it was down to ~$50... Someone brought it up here on VMB that it was a steal, and I didn't trust my gut...

But, we'd all be rich if we could see the future, right?

 

Chuck I hear you and yes, I saw the DB note too. It just kind of acts like it wants to go lower and I know the market didn't like those Macau #'s and Macau is "the" reason for the 43 PE IMO. Might miss it but I'm going to hang back for now and watch it. I still think there's a further shake up coming and Maddox is a short timer. Just my personal opinion. Really wish Steve wouldn't have f**ed up but that's water under the bridge....I'm sure he'd like to have a re-do as well.

 

Use options lol

 

That might have been me. I bought a bunch at around $50 and sold everything when Steve quit.

I'm sure Wynn could do well going forward but I was investing in the man more than anything else. They will eventually be just another generic casino operator without him. Im mostly in index funds. I only buy individual stocks when I have a great idea.

Wynn at $50 with new joints coming in Macau and Boston with Steve at the helm is a great idea.

Wynn at almost four times that with no Steve and basically the same projects on the board is a meh idea at best. It's like playing short pay video poker.

 

Wynn options due to the volatility of the underlying stock are quite expensive. I'd be more apt to buy the stock and be a seller of out of the money calls.

 

Still interesting at this price but PE is still high and if Macau doesn’t perform at high expectations....

 

Could be some Chinese gov't risk getting priced in again.

 

Very true Chuck.....and it may be warranted, they could look at all avenues to counter tariffs. Still....I look at $160 and think to myself, "you know it's going to be $200 again some day".

 

Posted in a similar thread a few months ago I'd take a peek at $125, without Wynn as CEO the p/e is to rich for my tastes.

 

Still waiting on the inevitable name change that was hinted at last year.................

 

What name was that?

Or for the new BOD to make Elaine Wynn the CEO and the Wynn name sticks. And then a few years later when things calm down, they remarry for the 3rd time and.....

 

Ok, enough of this nonsense... can we just bring Steve back and get on with things.

 

Eh, Macau revs were still higher than the previous month for the 27th straight month since they ended the crackdown, but were about 33% short of expectations. Let it keep coming in. Their earns release should be in a couple of weeks or so. You never know when they're gonna catch a good quarter because of variance. That's how I got it real cheap once. A bad hold % on bacc for a single quarter.

 

Sell a put for a price you're willing to pay...if the stock drops you get it at that price...if the stock goes up you've got free $ and can do it again to generate income.

 

I wouldn’t touch it—far too many unquantifiable risks not built into the price.

It could possibly “melt up” on buyout rumors or (more likely) it could slowly decline or trade sideways as it grows into that P/E.

It is very much a Macao company now and faces a million regulatory uncertainties—which will be harder for the company to manage without Steve at the helm. An Asian buyer could emerge willing to pay cash for the entire company at the right price—-which I feel would be lower than today’s price.

I’m surprised that Steve was able to liquidate his entire stake—much of it on the open market—very quickly without putting any real downward pressure on the stock. That seems to indicate there are sizable buyers around at current levels, absent any fresh negatives that may arise.

 

Elaine is another big ?...

Will she decide to sell, return to active involvement with the company, or just sit on her massive holdings?

 

Steve Wynn sold most of his stock in a private sale.

It closed today at $154. I hope the OP didn’t pay $180. Not sure what it’s really worth, but it’s worth a lot less without Steve at the helm.

 

Macau stocks took a big hit today. Big monthly miss.

WYNN down 13.
LVS down 5.
MLCO down 3.