PREDICTION: LVS IPO = Market top for casino stocks

laserboy · #1 12-16-2004, 06:55 AM

Las Vegas Sands Shares Soar in NYSE Debut

I can't see how these valuations are justifiable.

Disclaimer: I sold SHFL about 100% ago, so what do I know? [img]/images/graemlins/grin.gif[/img]

midas · #2 12-16-2004, 01:58 PM

I agree the market for certain names is totally wacked - Wynn has a market cap of $6.4B and they haven't even opened the doors!!!

tek · #3 12-16-2004, 04:38 PM

The lead underwriter was Goldman. They have energetic MM's that can manuever a stock very well...don't stay in the water too long, though...

laserboy · #4 12-17-2004, 03:10 AM

Las Vegas Sands: We feel that $21/share is a more than reasonable price. That puts us about on par with Harrah's and MGM-Mirage in terms of market cap even though our stable of properties is much smaller and less diversified...

Retail Investor: I'll give you $28/share!

Las Vegas Sands: [img]/images/graemlins/shocked.gif[/img]

Retail Investor: OK $50/share but not a penny more!

Las Vegas Sands: You drive a hard bargain... [img]/images/graemlins/cool.gif[/img]