Wynn Resorts (WYNN) is one of our Gaming, Lodging & Leisure team's favorite stock ideas. On Monday, when the Nasdaq fell as much as -1.5% on the day, Hedgeye CEO Keith McCullough issued a "buy signal" to Real-Time Alerts subscribers. "Looking for tickers that are A) Immediate-term #oversold alongside the Nasdaq and B) are Best Ideas from our research team," McCullough wrote about Wynn Resorts.
Here's some insight from our Gaming, Lodging & Leisure team, led by analyst Todd Jordan:
"Table revenues improved meaningfully last week from the prior week and GGR seems to be trending better than Street expectations for September."
McCullough closed the signal on Wynn today with the stock up +3.5% (from the open to the close signal).