"There is a major problem in Wynn Group's casino operation! A single day's loss may exceed hundreds of millions of dollars!"
"All Wynn Tai O casino operations have stopped, and there is a wave of tourists checking out!"
"Mysterious man sniped at Wynn Casino! The God of Gamblers in Las Vegas declared war on Wynn!"
Sure enough, the situation was just as Stephen suspected.
Early this morning, before the stock market opened on the other side of the ocean, all kinds of true and false news about Wynn Group were flooded in major newspapers and magazines, TV stations and the Internet.
Although these news do not have much impact on the group's business, don't forget that the Wynn Resorts Group of the Wynn family is a listed company.
Almost at the same time that these rumors were flying all over the sky, Wynn Resorts Group's stock price began to plummet as soon as the market opened!
Before the market opened, Wynn Resorts' stock price was as high as $110 per share, making it a high-priced blue chip stock in the stock market.
But three minutes after the market opened, the stock price plummeted to $100, and was about to fall below the hundred-dollar mark.
As the major shareholder of Wynn Resorts Group, the group's stocks are closely related to the interests of the Wynn family, so Stephen immediately asked people from the group's public relations department to come forward to refute the rumors, and at the same time asked people from the securities department to buy stocks in the market to stop the decline.
Under Stephen's operation, Resorts Group's stock finally hovered around the $100 mark.
However, the good times did not last long. At this moment, several heavy shorts suddenly appeared in the market.
Just one blow caused the resort group's stock to lose more than $100, and it was still plummeting.
The emergence of these new heavy shorts, coupled with the negative news before the market opened, finally caused a chain reaction.
The drop in the market when the market first opened in the morning was actually just a hedging measure taken by some investors out of worry after seeing the news.
The number of these people was not large, but because at this time most of them were waiting to see the resort group due to the negative news in the morning, there was no trading enthusiasm in the market, so only a few people's selling caused the stock price to fall.
However, when these large short positions appeared, all the retail investors in the market who were still waiting and watching seemed to see a signal.
run!
In the stock market, the information between retail investors and large investors is always unequal. These retail investors can only know some information about group companies through the news media, but large investors are different. They have their own information channels.
Therefore, in most cases, small retail investors will regard the actions of large investors as a indicator of the stock market.
The emergence of a large short market this time told them that something was really wrong with Wynn Resorts Group!
Otherwise, there would be no such big empty market!
run!
Run!
If you don't run, it might be too late!
The incited retail investors ran out of their resort group stocks one after another, hoping to stop their losses in time.
But soon, they discovered that as soon as they listed the stock, the stock price fell directly below the price they listed.
The speed at which these retail investors place orders can't match the speed at which others are falling?
Is this good enough?
In order to escape, retail investors became more panicked and placed the stock price at an extremely low position. These sell orders made the stock price drop even more terrifying.
For a time, the market almost completely lost confidence in Wynn Resorts Group.
Especially during this period, new news is constantly spreading in the market.
Among them, the biggest impact on the market is that Wynn Group’s casino business may not be able to open for a long time!
Because the Las Vegas gambling god who once forced the Venetian Hotel and Casino to suspend operations has taken action again.
And the other party even made bold claims on the Internet that as long as he is around, all the casinos under the Wynn Group will no longer be able to make money!
Don't think this is crazy talk. Wynn Tai O's casino business has been completely shut down because of this God of Gamblers!
As a high-priced stock in the stock market, why can Wynn Resorts Group's stock remain at a high level of more than 100 US dollars, higher than the stock price of high-tech companies such as Qualcomm?
Isn't it just because their casinos can make money and money comes in quickly?
Now that their casino business is failing, Wynn Group is just an ordinary hotel group and cannot afford such a high stock price!
When such thoughts generally appeared in the market, a wave of selling of Wynn Resorts Group shares emerged.
Moreover, compared to the Chinese stock market, the U.S. stock market can be shorted! Not only did many people sell their stocks, they also shorted Wynn Resorts Group in securities companies!
Such a vicious cycle made Wynn Resorts Group's stock finally unable to hold on and plunged all the way.
Within an hour of opening, the group's shares had fallen by 10%.
Faced with this situation, Stephen, the head of Wynn Resorts Group, was almost furious.
In just ten minutes, he received calls from at least a dozen major shareholders of the company, asking him what happened to the group? Why did the company's stock drop so sharply?
Although Stephen and his Wynn family account for the majority of the group's shares, there are still some major shareholders within the group.
Their questioning made Stephen so anxious that he could only vent his anger on his subordinates.
"What's going on? I want an answer! An answer!"
In Stephen's office, except for him who was furious, everyone else was silent.
Finally, when Stephen was silent for a while, the director of the securities department said, "Chairman, we have investigated and found that the group's stock market is no longer a pure market panic. There are large funds deliberately shorting our group's stock!"
"What you are saying is all nonsense! I want to know who it is! Who it is!"
Just some rumors will certainly cause the company's stock price to fall, but this decline is limited, not to mention that Stephen has already asked the securities department to intervene in the stock.
Now that the external stocks are still falling so miserably, it can only be because someone is maliciously suppressing the stock price.
The director of the securities department said: "Chairman, I have already asked my acquaintances at the exchange. It seems that the other party is MGM Group. They are sniping at us!"
People from the public relations department also said: "Chairman, we also asked the media, and their answers were the same. In addition to the news they dug themselves, there is also a batch of news that may have been provided by people from the MGM Group!"
"MGM? Kerkorian?"
Stephen's eyes lit up and he immediately looked aside. He asked the casino business director to investigate the strange things happening in the casino.
The latter lowered his head and said: "Chairman, yes, we checked and the person who ordered the leaflets to be distributed is a member of the Kerkorian family!"
"Korkorian? Kerkorian!"
Stephen raised his eyebrows, the truth of the matter was finally revealed, and this result was completely reasonable.
However, Stephen really didn't expect that the kid from the Kerkorian family would be so courageous. Not only finding someone to deal with his casino, he would even launch a sniper attack on the stock market?
How unreasonable! When I was in the stock market, you were not even born yet! How dare you attack me?
He immediately picked up the phone on the table.
"Get me Kerkorian from MGM! I want to talk to him personally!"