Wynn Resorts, Ltd. (WYNN) closed at $139.73 a share yesterday after a day long rally that shot the stock from a close on Friday at $129.06 a share, but what goes up must come down. WYNN is currently trading at $137.10 a share and falling. The wild fluctuations in price appear to simple market corrections. WYNN has been exceptionally volatile in the last 52 weeks, ranging from $95.05 to $172.58 a share.
Several hedge funds lost big on the correction:
1. Jat Capital Management – John Thaler: Lost $2.4 million
2. Capital Growth Management – Ken Heebner: Lost $1.6 million
3. Aletheia Research And Management – Peter J. Eichler Jr.: Lost $1 million
4. Renaissance Technologies – Jim Simons: Lost $1 million
5. Horizon Asset Management – Murray Stahl: Lost $704,711
6. Criterion Capital – Christopher Lord: Lost $626,234
7. D E Shaw – D. E. Shaw: Lost $370,556
These calculations assume that these hedge funds did not increase or reduce their stock positions in WYNN since the end of June. We did not take into account their option positions.