These 5 Stocks are Losing Value Today

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1. Caesars Entertainment, Inc. (NASDAQ:CZR)

Number of Hedge Fund Holders: 73

Shares of Caesars Entertainment, Inc. (NASDAQ:CZR) fell over five percent on Thursday morning apparently due to a potential strike from workers. The workers’ union is trying to negotiate new contracts with multiple properties, including the properties of Caesars, located in Atlantic City.

The union has set a deadline of Friday midnight. If the agreement is not reached by then, the workers plan to strike during the upcoming long holiday weekend that could cost these casino owners, including Caesars Entertainment, Inc. (NASDAQ:CZR), millions of dollars.

Earlier this year, Caesars Entertainment, Inc. (NASDAQ:CZR) appeared in the fourth-quarter 2021 investor letter of investment management firm Carillon Tower Advisers. Here’s what the firm said:

Caesars Entertainment, a diversified casino-entertainment and resort company, underperformed in the period as its quarterly earnings update was viewed as disappointing by investors. The firm highlighted a number of one-time headwinds that ultimately weighed on margins, as well as some negative impacts brought on by the surge in COVID cases. Despite this, we believe that the sizeable overall margin improvements Caesars has realized coming out of the pandemic will ultimately prove sustainable in the long run.”

You can also take a peek at Bill Gates’ Latest Stock Portfolio: Top 10 Picks and David Abrams’ 2022 Portfolio: Top 10 Stock Picks.

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