Sands Stock Plummets
Despite the recent surge of “Buy” rating issued for Las Vegas Sands Corp (LVS: 18.85 +2.22%), the company saw shares plummet 2.16% to $18.10 on Friday on 18.76 million shares.
Stock for the casino operator reached an intraday high of $18.40 and an intraday low of $18.01.
The low for the month was reached on January 4th coming in at $15.52 with a high for the month of $18.56 on January 7th.
However over the last six months the gaming companies stock increased 172%.
Las Vegas Sands Corp owns and operates The Venetian Las Vegas, The Palazzo and The Sands Expo and Convention Center in Las Vegas, Nevada, and the Sands Macau, The Venetian Macau Resort Hotel and the Four Seasons Hotel Macau on the Cotai Strip in Macau.
In December, Sands announced that they planned to complete all of the five planned developments on the Cotai Strip, the world’s largest gambling hub, within the next five years, with the two already half constructed properties being completed by the end of 2011.
The company also plans to open another Asian property in Singapore by mid 2010, despite constant delays.
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