Followers | 686 |
Posts | 142399 |
Boards Moderated | 35 |
Alias Born | 03/10/2004 |
![](https://investorshub.advfn.com/uicon/35728.png?cb=1539773763)
Wednesday, June 07, 2023 12:45:22 PM
By: Schaeffer's Investment Research | June 7, 2023
• The casino stock has historically struggled in June
• There's plenty of optimism to be unwound
Shares of Wynn Resorts, Limited (NASDAQ:WYNN) are reversing a rally off a pullback to the $95 region, last seen down 0.7% to trade at $102.04. For the quarter, the casino stock is down 8.7%, and history suggests that June may see the stock drop lower still.
![](http://schaeffers-cdn.s3.amazonaws.com/images/default-source/schaeffers-cdn-images/2023/june/intraday/wynn-chart-june-72023.png?sfvrsn=351baa06_2)
In fact, according to data from Schaeffer's Senior Quantitative Analyst Rocky White, Wynn Resorts is the second worst stock on the S&P 500 Index (SPX) to own in June, looking back over the past 10 years. The shares averaged a loss of 4.3% for the month over the last decade, and finished the month lower eight times.
![](http://schaeffers-cdn.s3.amazonaws.com/images/default-source/schaeffers-cdn-images/2023/june/intraday/worst-spx-stock-june-72023.png?sfvrsn=311baa06_2)
As for the brokerage bunch, there's plenty of optimism to be unwound. Of the nine analysts in coverage, six maintain a "strong buy" rating. Plus, the security is ripe for a round of price adjustments, given the 12-month consensus price target of $129.35 is a 26.5% premium to current levels.
A shift in the options pits could also weigh on WYNN. At the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), Wynn Resorts stock sports a 50-day call/put volume ratio of 2.64, which ranks higher than all readings from the past 12 months.
It's also worth noting that the 7.13 million shares sold short make up 7.4% of the stock's available float. It would take nearly three days for these traders to buy back their bearish bets.
Read Full Story »»»
![](http://studentaid.gov/universal-navigation/assets/us_flag_small.png)
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Recent WYNN News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/29/2024 01:05:02 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/28/2024 03:29:54 PM
- Reddit Rises 15% After First Quarterly Report, Upstart and Twilio Plunge Due to Weak Q2 Forecast, and More in Earnings • IH Market News • 05/08/2024 12:23:27 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/07/2024 09:16:45 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/07/2024 08:05:38 PM
- Wynn Resorts, Limited Reports First Quarter 2024 Results • Business Wire • 05/07/2024 08:02:00 PM
- U.S. Index Futures Mixed in Pre-Market Tuesday, Oil Dip • IH Market News • 05/07/2024 11:47:40 AM
- Wynn Resorts Releases New, Updated Images of Wynn Al Marjan Island • PR Newswire (US) • 05/06/2024 08:00:00 AM
- Wynn Resorts Releases New, Updated Images of Wynn Al Marjan Island • PR Newswire (US) • 05/06/2024 08:00:00 AM
- Wynn Resorts Announces First Quarter Earnings Release Date • Business Wire • 04/30/2024 08:05:00 PM
- Wynn Resorts Announces Final Results of Tender Offer for Cash by Wynn Las Vegas, LLC for its 5.500% Senior Notes due 2025 • Business Wire • 03/09/2024 01:39:00 AM
- Wynn Las Vegas to Debut Culinary Festival, Revelry, Following The World's 50 Best Restaurants Awards • PR Newswire (US) • 03/06/2024 07:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/02/2024 12:03:30 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/02/2024 12:02:18 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/02/2024 12:00:33 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/23/2024 09:34:00 PM
- Wynn Resorts Announces Early Results of Tender Offer for Cash by Wynn Las Vegas, LLC for its 5.500% Senior Notes due 2025 • Business Wire • 02/23/2024 12:10:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/13/2024 01:08:44 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/13/2024 01:06:24 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/13/2024 01:04:48 AM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/12/2024 03:23:47 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/09/2024 10:00:09 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 02/09/2024 03:53:05 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/08/2024 10:14:55 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/08/2024 10:13:31 PM
FEATURED Freedom Holdings Corporate Update; Announces Management Has Signed Letter of Intent • Jul 3, 2024 9:00 AM
EWRC's 21 Moves Gaming Studios Moves to SONY Pictures Studios and Green Lights Development of a Third Upcoming Game • EWRC • Jul 2, 2024 8:00 AM
BNCM and DELEX Healthcare Group Announce Strategic Merger to Drive Expansion and Growth • BNCM • Jul 2, 2024 7:19 AM
NUBURU Announces Upcoming TV Interview Featuring CEO Brian Knaley on Fox Business, Bloomberg TV, and Newsmax TV as Sponsored Programming • BURU • Jul 1, 2024 1:57 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM
VAYK Exited Caribbean Investments for $320,000 Profit • VAYK • Jun 27, 2024 9:00 AM