13 Stock Predictions That Jim Cramer Got Completely Wrong

Page 2 of 13

12. Wynn Resorts, Limited (NASDAQ:WYNN)

Number of Hedge Fund Holders: 64

Cramer brought up Wynn Resorts, Limited (NASDAQ:WYNN) in that older episode while discussing exposure to China. He mentioned the company’s upcoming earnings and why it’s a core holding in his charitable trust. Here’s what he said back then:

“Next we’re constantly on the lookout for anything good coming from China, right? And we get results from Wynn Resorts on Tuesday night. Wynn owns two casinos in Macau—the Chinese gambling haven. I think they’ll put up some good numbers, which is why we own it for the Charitable Trust. The Chinese seem to be willing to travel locally even as they’re not showing interest in visiting here.”

Despite Cramer’s confidence, the stock fell 14.20% following his endorsement.

Wynn Resorts, Limited (NASDAQ:WYNN) operates high-end casinos and hotels, with a strong presence in Macau and Las Vegas. The host of Mad Money addressed the negativity a few days ago, saying:

“We went to see Wynn Resorts when we were out in Vegas recently, and I know the stock’s been under some pressure. I’d love to hear that the negativity is all hot air.”

Page 2 of 13