| 2021-09-20 12:29:26|
WYNN 12:29 09/20 09/20/21
Wynn Resorts down after Jim Chanos says stock worth in $40s
Jim Chanos of Kynikos Associates, while speaking on CNBC, said he's short shares of Wynn Resorts and that the stock should be trading in the $40s. In midday trading Wynn is down 3% to $80.51. Chanos said Wynn's U.S. casinos are currently being valued at 20 times estimated 2022 EBITDA, which is too high. He also highlighted the slowdown in Macau traffic and the company's debt levels.