Leader Herald Staff Report
Last week we reported the dive Wynn Resorts stock has taken since the Everett project got underway.
The big fall came when Steven Wynn resigned and was forced to sell his interest in the company.
It went down about 30 points but then came back a bit.
The recent fall turns out a good thing for him. He got about $2.1 billion for his stock when he sold it in June.
As of Tuesday, Wynn stock had fallen to $119.00, down from the near to high Wynn sold it at about $170.
In fact, when the market opened Tuesday, Wynn stock opened with it at $115.00.
Such downward trajectory has affected a number of rms who make predictions about stocks.
About a half dozen have lowered their expectations for the stock and four have suggested their major financial clients to sell the stock.
Wynn remains solid with its earnings and business being done around the world.
However its stock is in a downward spiral right now.
It is either a great buy, has further to fall, or should be sold immediately.