Las Vegas Sands 167% Return in 3 Days

Despite the glum analyst outlook, Las Vegas Sands (NYSE:LVS) shares have gained over 167% since Wednesday but can the momentum continue?

The analyst community is not very supportive of the Las Vegas stocks, including MGM, WYNN, and LVS:

LVS shares have gone on a tear thanks to Singapore’s government pledging support for the completion of a local $4 billion casino project.

“The Singapore Tourism Board is monitoring the situation and is aware that the current uncertain economic climate may give rise to concerns,” the agency board said in an e-mailed statement, Bloomberg News reported. The tourism board said it was “working closely” with Las Vegas Sands’ Singapore unit, Marina Bay Sands.

Another reason for the spike in LVS shares is they hit $4 on Tuesday, despite how bleek the outlook may be for the Sands, considering their shares were $135 a year ago is something that bottom chasers are taking into consideration.

StockHouse.com is calling the Las Vegas Sands: Halloween chart from Hell 

But this is supposed to be the chart from Hell, so what gives? Expand your view of the chart to beyond this week only and the numbers tell a different story. Below is a three-year weekly chart of the owner/operator of integrated casino resorts in both Vegas and the island of Macao, known formally as The People’s Republic of China’s Special Administrative Region of Macao. 

If you believe that more and more people will be rolling the dice in the casinos to try and make back what they’ve lost in the stock market over the past few months, then perhaps this one is a treat.

But to get back to its 52-week high of $135, touched one year ago today, the stock would have to gain over 1000%. Now that’s a trick. 

Investors hoping to find a bottom with LVS have to expect some profit taking in the coming week, until Las Veags stocks get some clear direction expect volatility to continue.

Disclaimer: No positions in any of the securites mentioned in this publication.