Why Wynn Resorts, Limited (WYNN), Twitter Inc (TWTR) and ArcelorMittal SA (ADR) (MT) Are Three of Today’s Worst Stocks

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Though July’s deflation for manufacturers and other producers gives the Federal Reserve some room before being forced to impose its next rate hike, weak retail sales for last month left a slightly bad taste in investors’ mouths. The S&P 500 lost 0.08% on Friday, closing at 2,184.05.

Why Wynn Resorts, Limited (WYNN), Twitter Inc (TWTR) and Ar celorMittal SA (MT) are Three of Today's Worst StocksMore than a few stocks managed to lose a lot more ground than that, however. Among the worst of the worst were Wynn Resorts, Limited (NASDAQ:WYNN), Twitter Inc (NYSE:TWTR) and ArcelorMittal SA (ADR) (NYSE:MT). Here’s the deal.

ArcelorMittal SA (MT)

Don’t look for a specific reason resource miners Vale SA (NYSE:VALE), Rio Tinto plc (ADR) (NYSE:RIO) and ArcelorMittal — along with their materials peers — were down far more than the broad market was today. You won’t find it.

Rather, you have to go back to Wednesday to realize that’s when the selloff ultimately started. Wednesday is when a multiweek rally for each came to a screeching halt after a pullback in commodity prices started a wave of profit-taking that has yet to abate.

Since Tuesday’s close, things have been rough on all of them, and particularly tough on ArcelorMittal. MT shares lost 4.6% of their value on Friday, bringing the three-day rout to around 6%.

Twitter Inc (TWTR)

An otherwise good week for Twitter and TWTR shares ended on the wrong foot, with the stock losing 1.2% of its value.

The prod for the pullback was two-fold. One of the blows was dealt by a relatively scathing article from BuzzFeed, blasting Twitter for not doing enough to prevent abuse of its users. Fanning those flames was this message pointing out that the company didn’t do enough to refute Charlie Warzel’s assessment. The sheer optics put Twitter in a bad light.

At the same time, TWTR shares were facing an uphill battle on Friday when rumors surfaced that Twitter was planning on simply shutting down in 2017. The company did refute that theory, though with the seed planted, investors were skeptical.

Wynn Resorts, Limited (WYNN)

Last but not least, Wynn Resorts hit a headwind today on alarming news from China’s Macau gambling enclave.

After a government crackdown on the industry last year led to a steep revenue slump for Wynn’s operation in Macau, a light at the end of the tunnel was starting to shine. Last month’s gambling revenue generated in Macau was only down 4.5% … a decline smaller than the prior two year-over-year monthly comparisons.

In conjunction with an expected turnaround, Wynn Resorts is currently building a new casino in Macau, with plans to open it before the end of the year. WYNN shareholders were given a bit of bad news on Friday, though, when regulators only granted the casino operator permission to set up a third of the number of gambling tables Wynn had requested for the new location.

WYNN ended the day down nearly 3%.

As of this writing, James Brumley did not hold a position in any of the aforementioned securities.

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Article printed from InvestorPlace Media, https://investorplace.com/2016/08/why-wynn-resorts-limited-wynn-twitter-inc-twtr-and-ar-celormittal-sa-mt-are-three-of-todays-worst-stocks/.

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