Las Vegas Sands surge on optimism around the lift of lockdowns in AsiaPublished by Terence Mahier | Source
Las Vegas Sands is a chain of Hotels and Casinos in the U.S. and South-East Asia (Macao & Singapore). It was one of the 1st U.S. company badly hit by the pandemic since it generates the majority of its income in Asia and its Casinos were shut down as soon as Jan. 😷
LVS surged by +10% in pre-market today after publishing Q1 results not as bad as expected. The chain also painted a brighter future announcing that demand in Asia is likely to rebound more quickly than the U.S. as Asia has dealt with deadly pandemics in the past... 💪
LVS is down 40% since the beginning of the year - but isn't it too soon for optimism? 🧐
Net revenues for LVS reached $1.8B, beating the consensus of $1.6B but down 51% compared to Q1 2019 📉
JP Morgan analysts upgraded the stock saying that LVS has suffered a lot on the market lately and it might be a good time to enter.
On the other hand, the fear of a "second wave" of the pandemic is still looming, with an exponential increase of cases in Singapore over the past weeks 😨
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- Newspill Team 💊
23-Apr 09:27 (Eastern Time)
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