Short Las Vegas Sands (LVS) For 20-30% Gains By Christmas
Nov 17th, 2008 | By J. Christoph Amberger | Category: Financial NewsJ. Christoph Amberger says the casino industry is following the automaker sector into deep water. He says Las Vegas Sands Corp. (NYSE:LVS) stock is likely to keep on sinking as access to credit dries up. Short traders have a chance to make 20-30% gains by Christmas.
This from Today’s Financial News:
Despite the substantial drop in the U.S. equity markets, Las Vegas Sands Corp. (NYSE:LVS) gained over 9% today. The company is currently in talks with a syndicate of banks to raise between $1.5 billion and $2 billion to finance new casino projects in Macau. The company had suspended construction on its expansion into Chinese gaming, laying off most of the 11,000 construction staff.
The stock price has dropped from over $122 last December to just above $6 today.
We think Sands is the new GM: Obtaining credit to finance the Macau project at this point is a self-defeating target. By the time the money comes in, the Chinese gaming market will be just as hard-hit as Vegas. There may be room for another 10% gain in the next weeks. More likely, the company will blow past its 52-week low of $4.32 before November is over.
Since I first wrote about this stock on August 19, 2008 (“The House always wins: Investors lose big with MGM Mirage (MGM), Las Vegas Sands Corp. (LVS), Wynn Resorts (WYNN)”), the price has dropped from $50.93 to below $5.
Short it again, for 20-30% gains by mid-December!
Source: The long dying of vice stocks: Short Las Vegas Sands (LVS) for 20-30% gains!
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Amberger began his career as a freelance contributor to Agora publications before emigrating from Germany to the United States in 1989, when he joined the editorial board of Taipan. In 1991, he took over as managing editor for the publication and assumed responsibility as group publisher four years later. In 2007 Christoph left Taipan and founded TodaysFinancialNews.com along with its premium publications: the highly successful stock Hot Stock Confidential, the options research service TFN Strategic Trader and, most recently, Penny Stock Confidential. In November of 2009, he welcomed Contrarian Profits to the Today's Financial News network.
LOL sound like u r a short seller trying to cover LVS
Lvs 2008 3q vs 2007 3q up almost 70% even in recession
so you think the casino dont make money anymore??
they make more money than last quarter that mean they spend too
much on building other casino. If they can get the money they need and
if they gone thought the financial crsis, they r the money maker
Why? Cause the casino is the money making machine
that’s why we have Las vegas, That’s why those expensive Las Vegas
resort exist
Regardless of what happens to the company, you gotta feel for the big guy Sheldon Adelson, who has taken a whopping 91% hit to his personal fortune…
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