Jim Cramer Discussed These 12 Stocks Recently

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1. Wynn Resorts, Limited (NASDAQ:WYNN)

Number of Hedge Fund Holders: 52

Cramer bluntly put that China turned out to be damaging to Wynn Resorts, Limited (NASDAQ:WYNN) as he said:

“First, you have to ask, is it dependent upon China in any way, shape, or form? That’s been the kiss of death for a really good casino company, Wynn Resorts, and for Estee Lauder, the mess of a cosmetics company.”

Wynn Resorts (NASDAQ:WYNN) designs, develops and operates integrated resorts, offering luxury accommodations, gaming spaces, spas, retail, dining, and entertainment venues across multiple properties, including high-end hotels, private gaming salons, and convention facilities. According to TheStreet, in August 2021, Cramer explained the downtrend in the stock as he said:

“Wynn, it hasn’t performed as I’d like, hasn’t panned out at all, frankly. But I think that’s about the change because the facts have changed, and you have to change with those… The stock got socked, one-two punch by Delta and by the People’s Republic of China putting restrictions on Macau… I think people will be looking for stocks that are not Chinese-based that can still capture the Chinese rally as well as for travel and leisure stocks that haven’t moved that much yet versus when they traded pre-Delta. And of course, here I’m thinking about Vegas. And that’s Wynn.”

Since then, Wynn Resorts (NASDAQ:WYNN) stock has seen a decline of over 15%.

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READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.

Disclosure: None. This article was originally published at Insider Monkey.

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