Wynn’s Tornado of Adverse Events Continues
Shares of casino owner Wynn Resorts Ltd., our latest short idea, continue to lag the market for very good reasons. Wynn faces a triple tornado of adverse events. These include the pandemic, the resulting economic depression and trouble for their Macau location. A rebound will surely arrive, but how large it will be is unclear. As revenues decline and debt load rises, these headwinds will continue to put downward pressure on its stock price.