Finishline Las Vegas Sands And The Finish Line The finishline
As we approach the end of 2008, we've decided to indulge in one of December's most treasured media conventions. Yes, that's right -- welcome to By the Numbers, now featuring the best and worst stocks of the year! Read on to find out exactly what happened with Las Vegas Sands Corp.and The Finish Line, Inc. during the past 12 months.
Leaders and laggards
Since we're hardly Tom Clancy, let's go ahead and end the suspense now. Las Vegas Sands is our worst stock of 2008, with a year-to-date drop of nearly 93%. Meanwhile, The Finish Line has pulled back from its mid-year peak, but still boasts an impressive gain of nearly 170%.
Our criteria to pinpoint the best and worst performers were simple. We zeroed in on stocks with near-term open interest of at least 3,000 calls and 3,000 puts, and we insisted that these securities close at a price somewhere above $3. So, in theory, we could be missing out on some penny stocks that have made major percentage moves... but we're OK with that.
Our second-best stock of 2008 was Fuel Systems Solutions (FSYS), up 136.6% in 2008 (not to pat ourselves on the back too hard, but regular By the Numbers readers may remember that we flagged FSYS as an awesome stock back in June). Meanwhile, XL Capital (XL) is the runner-up for worst stock of the year, with an impressive slump of 92.9%.
What's wrong with LVS?
Gaming stocks have been absolutely hammered in 2008, with Boyd Gaming (BYD) and MGM Mirage (MGM) also turning in pitiful performances -- down 85.8% and 83.5%, respectively. Las Vegas Sands is no exception to the rule, with the company recently warning Wall Street of threats to its viability.
A general slowdown in discretionary spending, along with stiff competition, have weighed heavily on gamers. However, Macau is quickly becoming a thorn in the sector's side. Many major gaming players have resort casinos on the Chinese island, but the mainland government isn't making it easy for them to thrive.
In April, Macau stopped issuing new casino licenses and imposed a land freeze on the construction of new casinos. More recently, the Chinese government has issued new visa restrictions that have limited the flow of tourist traffic to the island.
Related : Finishline Las Vegas Sands And The Finish Line The finishline, Footlocker, Eastbay, Footaction, Finish Line, Champs
Comments