Las Vegas Sands (LVS 66.80) opened lower yesterday and closed higher, giving a nice candle on the chart for technicians. The stock was pressured because of a court case win by Richard Suen, who helped LVS get a casino license in Macau. The verdict was $43 million; it will be appealed, and he'll probably get $15 million out of court to go away. Meanwhile the stock took a $3 billion hit during the trial.
Last Friday, Goldman Sachs put LVS on it's conviction buy list, and buyers who bought on Goldman's advice got the opening print of 69.99.
Today, LVS offered a peak at its new Cirque du Soleil show opening at the Venetian Macau.
LVS is trying to turn the Macau day trippers into overnighters, and the two day players into four days. This won't quite do that, but at these prices, look for some of the timid analysts to join Goldman's bullish call. They can tout the new ferry service of LVS into Macau, and the new shows; and by doing that they'll accidentally recommend buying a stock at its low instead of its high.