Diamonds and Dogs
Casinos look good today. Wynn Resorts (WYNN) is up 5% while MGM Resorts (MGM) is up 7%, both following earnings. Earnings were not spectacular, but business and sales are improving and look to keep improving in 2023 as China reopens their economy. We will see.
Buy now, pay later is not working. Affirm Holdings (AFRM) is down 17% as the company missed estimates and announced plans to cut 19% of their staff to cut costs ahead of weak guidance. The company is blaming rising rates for dampened consumer spending levels.
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