The market as a whole was in pretty good shape today (Dow up 141
points, 1.8%), however most of the major Vegas stocks absolutely
tanked. Boyd down 13% to 4.19, LVS down 7% to 4.06, MGM down 14% to 7,
and even Wynn (in better shape than most) down 3% to 28.82. Most of
these are at or near 12-month lows. Does anyone know what gives? Maybe
worry over the possible bankruptcy of Station Casinos?
Roberto-Tenore
Just an idea, but might not this be a sort of canary
in the mine thing - a place like Vegas will feel the
effects of the economic freefall we are experiencing
first?
The impending implosion of Stations and HET, and the
Sands Corp on the verge a couple of months ago are not
good signs for the short term health of the industry.
Isn't Vegas the poster child for excess? The shakeout
will be painful, but it may bring better value to some
of us "fleas" too.
Cheers!
Jigger
"One of the nice things about being unemployed is that
you don't have to wash your hands after using the
restroom."
--- tenore_s <tenore_s@yahoo.com> wrote:
The market as a whole was in pretty good shape today
(Dow up 141
points, 1.8%), however most of the major Vegas
stocks absolutely
tanked. Boyd down 13% to 4.19, LVS down 7% to 4.06,
MGM down 14% to 7,
and even Wynn (in better shape than most) down 3% to
28.82. Most of
these are at or near 12-month lows. Does anyone know
what gives? Maybe
worry over the possible bankruptcy of Station
Casinos?Roberto-Tenore
------------------------------------
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Citi started MGM at a sell rating and gave it a price target of $2.50.
MGM also hurt a little by Moody's cutting is debt rating.
--- In vpFREE@yahoogroups.com, "tenore_s" <tenore_s@...> wrote:
The market as a whole was in pretty good shape today (Dow up 141
points, 1.8%), however most of the major Vegas stocks absolutely
tanked. Boyd down 13% to 4.19, LVS down 7% to 4.06, MGM down 14% to 7,
and even Wynn (in better shape than most) down 3% to 28.82. Most of
these are at or near 12-month lows. Does anyone know what gives? Maybe
worry over the possible bankruptcy of Station Casinos?Roberto-Tenore