Below is a note from Hedgeye CEO Keith McCullough on why we're removing Wynn Resorts (WYNN) from Investing Ideas today:
Per Todd Jordan this morning:
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“A massive typhoon went thru Macau last night and caused severe damage (even some deaths); ferry service will be shut down for a few days, so expect some short-term disruption. Everyone has insurance, so all companies will be made whole; we would buy on any weakness” |
And this is where I come in as your Risk Manager of longer-term ideas. I’d much rather establish a cost basis in WYNN in the $115-125 range than having you hold it up here close to recent highs.
KM
