There are a lot of opinions, and none of them are right until after the fact. Mirage stock has hit a new low, trading at one point Wednesday below 20 for the first time in a very long time. I have an attractive rating on Mirage and won't downgrade because of the sales. Wynn still has a significant amount of shares, and I believe Bellagio will be a big success. The analysts cautioned against reading too much into Wynn's sale.
Every situation is different.
I try not to think about personal transactions but to focus on the fundamentals. And we've always said Mirage is a bellwether stock with a marque product coming into the market and an obsessive-compulsive management, which is what every shareholder should want. These are three guys who've created more wealth than anyone else in Las Vegas, and they're all doing different things. And I suspect they'll all be right. Hopefully, he'll be wrong this time, too.