Mark Gritter (markgritter) wrote,
Mark Gritter
markgritter

From long_or_short, Mr. Wynn Explains The Facts of Life

Timeline:

late June 2007: WYNN closes around $85/share
late September 2007: WYNN issues some additional stock at $154/share
December 2007: WYNN issues a $6/share dividend

Steve Wynn's explanation:
These unnatural movements in value, no company gets to be worth twice as much in 60 days as it was before to any intelligent person, so when that happens, we take advantage of it. If everybody is so hungry for shares, we let them have some. If the shares go down, we buy them. And that, that is a statement of policy in this company, period.

Long or Short Capital's translation:
Y’all are fools and so we took advantage of you.
Tags: finance
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