Why did Wynn Resorts stock go up today?

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Wynn Resorts (NASDAQ:WYNN) soared on Wednesday after a report from The Wall Street Journal indicated that China may pull back on its zero-tolerance COVID policy and ease some restrictions.

Sources tipped that Chinese officials are looking into using travel bubbles, collecting data on new antiviral drugs and looking for supply partners for Chinese mRNA vaccines. Specific policy changes, including potential loosening of some COVID restrictions, are anticipated to be enacted in the spring.

Chinese public-health experts have been quoted publicly as saying that data shows an Omicron infection is roughly as dangerous as the flu for most people under 60 years of age.

That all potentially sets up for a bounce in traffic to Macau later this year.

Shares of WYNN rose 9.31% and traded as high as $89.91 vs. the 52-week trading range of $76.03 to $143.88.

Comments

[Capper76]

Anyone want to venture a guess as to what will happen with LVS and Wynn in the event China invades Taiwan ?

[Silvio spicacci minervini]

Any chance this will ever go back to 100? What is the problem here? Macao and debts?

[cssys]

because its dirt cheap,,,vegas & mass are worth 100 plus WITH OUT the far east...

[CKut]

Winning Resorts today

[qwerty11]

Because indexes are up 2%?