Wynn Resorts Stock Surges After Earnings

Wynn Resorts Ltd (NASDAQ:WYNN) stock is surging today, after the casino giant's fourth-quarter results beat estimates. No fewer than six analysts lifted their price targets after the event, though CFRA slashed its rating to "hold" from "buy." At last glance, WYNN was up 7.4% at $107.25.

Today's pop has Wynn Resorts stock gapping to its highest level since early August. The stock has more than recovered its mid-November post-earnings losses, which sent it to 52-week lows. On track for its eighth weekly win in the last nine weeks, the equity is up 16.6% since the start of 2024. 

Over in the options pits, 31,000 calls and 9,547 puts have been exchanged -- fives times the volume typically seen at this point. The February 110 call is the most popular contract, with new positions being bought to open there. 

Though shorts having been covering their bets, with short interest down 12.4% in the last two weeks, there is still plenty to unwind. The 5.13 million shares sold short account for 5.4% of the stock's available float. 

Where should you invest $1,000 right now?

Before you make your next trade, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.

Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.

They believe these five stocks are the five best companies for investors to buy now...

See The Five Stocks Here

10 Best Stocks to Own in 2024

Click the link below and we'll send you MarketBeat's list of the 10 best stocks to own in 2024 and why they should be in your portfolio.

Get This Free Report