Las Vegas Sands dropped 3% on a day the Dow finished green, yet the company repurchased $740 million of its own stock last quarter at $56.64 per share. When management buys at a 22% premium to today's price, either they're wrong or the market is.
Las Vegas Sands has repurchased 14.3% of its own shares since late 2023 while the stock has fallen steadily below its 200-day moving average. When a company with $3.6 billion in quarterly revenue is aggressively buying its own declining stock, someone at the table believes the market is wrong... and operators in Macau and Singapore should be paying very close attention to what that bet implies.
📡
Get the Briefing Every Morning at 6AM
Join hotel operators, owners, and investors who start their day with InnBrief.
Free forever. Unsubscribe anytime. No spam — just signal.