Monday , 20 November 2017

Home » RESOURCES » MARKET » Jim Cramer — I Love Steve Wynn, Not Chasing Wynn Resorts

Jim Cramer — I Love Steve Wynn, Not Chasing Wynn Resorts

Steve Wynn is “one my heroes,” TheStreet’s Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC’s “Mad Dash” segment. This is a man whose name should be spelled “Win” because that’s what he does. 

The CEO of Wynn Resorts (WYNNGet Report) bought some $100 million worth of stock over the past few months. Why? Because clearly the stock was too cheap, Cramer said. With shares up big from those levels, and up another 10.5% on Thursday, it certainly appears the chief exec was right. 

But much as he loves Wynn, he isn’t going to be chasing Wynn Resorts stock after such a huge rally.

Why are shares jumping? The company’s Las Vegas expansion plans, Cramer said. Wynn is focusing on entertainment as well as gambling. If that isn’t enough, there’s the improvement in Macau’s gambling climate and even a successful integrated casino/resort in Boston. 

Must Read: More Squawk From Jim Cramer: JPMorgan Chase (JPM) ‘Best House in Bad Neighborhood’

Wynn is “having a good time” and this a “remarkable turn,” Cramer stated. 

At the time of publication, Cramer’s Action Alerts PLUS had no position in companies mentioned.

Let’s block ads! (Why?)

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

Jim Cramer — I Love Steve Wynn, Not Chasing Wynn Resorts Reviewed by on . Reddit Email Print Reprint Steve Wynn is "one my heroes," TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Mad Dash" segm Reddit Email Print Reprint Steve Wynn is "one my heroes," TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Mad Dash" segm Rating:
scroll to top