Wynn is a heated Casino stock that can make you a ton of money without taking much of a gamble. Sentiments have been so bearish towards the casinos, that all the recent analyst upgrades have surprised investors and are sending it much higher. They’re not done yet, and the stock isn’t done going higher, because everyone wants to get in on Wynn. Wynn was over $164 a share before this great bear market and recession occurred. A cut back in gambling in Vegas has taken a toll on the stock. But Wynn’s strong balance sheet and very little debt relative to the other casinos makes it a great play on the turnaround in casinos. Its China casinos are also growing even faster than in the States, which have already helped Wynn blow away the earnings estimates.
Now the stock has had a quick run up from $52 to $65. People should be taking some profit which can bring the stock down a few bucks. If it ever goes below $55, the stock is a steal. I would also be buying under the $60 level.
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