Wynn Resorts: 'Short' Follow-Up

If you have been reading along, you would have scooped up two short calls that we made on Wynn Resorts (WYNN). The most recent was last week when we identified conditions that we found to be troubling for the casino operator. (Click here.)

To top it off, Steve Wynn said in Wednesday’s conference call: “… it will not be expanding in the U.S. until management understands what is going on in the country.“

Interesting discussion from last week as Steve Wynn shows his disdain for the U.S. government’s current course.

We covered the shares Wednesday for clients at a 9% gain from the position and will look to short again if it moves toward $62.

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Disclosure: Horowitz & Company clients may hold positions of securities mentioned as of the date published.

Comments

[Jonny Rotten:]

This Wynn guy is 'out of his tree'.

Anyone who says their opinion is 'not an opinion ... its fact!' is someone you don't want to be giving you opinions.

Granted he is a very successful person - and he knows how to run a business - but I have a feeling he'd still learn a lot about macro-economics from economics 101.

His rant on his earning conference call - which was more a long diatribe against Obama's policies than an earnings call - started to feel creepy and uncomfortable. It was like everyone was thinking 'this guy' is running this place?

He talked his stock straight down - despite performance. At least the guys at LVS stuck to the topic today - and gave the relevant info needed to make a decision about their stock. You got nothing like that from crazy preacher, 'its not my opinion - its fact' Steve!

Oct 30 01:05 AM