Tuesday November 14, 2008 Navivest

Shares of Wynn Resorts (WYNN) climbed over 5% in after hours trading yesterday, after Standard & Poor’s announced that it will add the company to the S&P 500 index. Stocks tend to rally on such news as it is assumed that money managers who try to track the stock market or match the performance of these indices, will buy the shares of the stocks being added.

This may not necessarily be the case that much these days as there are now single instruments money managers can buy that can effectively track the entire indices.

We have had Wynn Resorts (WYNN) on our watch list as a shorting candidate for the past six weeks and from intra-day lows of $41.50 on Friday 11/07, Wynn shares might open up $2.43 to trade at $49.25 today. That creates a

What casino-resort company did billionaire Ron Baron recommend on Tuesday?

In this video, Baron recommends Wynn Resorts (WYNN) as well as Ralph Lauren (RL).

Disclosure: At time of publication, William Trent has no financial position in the companies mentioned in this article.

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