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Jim Cramer on Las Vegas Sands: “It Looks Like Wealthy Chinese Consumers Are Still Hesitant to Spend Heavily”

Las Vegas Sands Corp. (NYSE:LVS) is one of the noteworthy S&P 500 stocks Jim Cramer highlighted. Cramer noted the stock’s recent decline during the episode, as he said:

Finally, the eighth worst performer last month was Las Vegas Sands. That’s the casino company that’s now exclusively a play on Macau and Singapore. Stock sank 19% last month in large part because they did report a disappointing quarter last Wednesday with weak margins in Macau, thanks to elevated promotional spending.

It looks like wealthy Chinese consumers are still hesitant to spend heavily, perhaps because the real estate market’s doing so badly there…. There’s nothing particular that makes me understand why things were really that bad there. As I said on Friday, I’m skeptical of the gambling industry right now. Even if I were willing to take a chance on a bounce, I’d rather do it with a company that gets most of its business from the United States. I do like Wynn, for instance.

A technical stock market chart. Photo by Energepic from Pexels

Las Vegas Sands Corp. (NYSE:LVS) owns and operates resorts that include hotels, casinos, and retail malls. The properties also provide convention facilities, restaurants, and entertainment venues.

While we acknowledge the risk and potential of LVS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than LVS and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

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

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  • 140 Metas
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  • 65 Microsofts
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  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

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