Jim Cramer, the CNBC host of “Mad Money,” has finally decided that investors should dump their shares of Caesars Entertainment Corp. (CZR) and possibly use the money to buy Wynn Resorts Ltd. (WYNN).
The problem for investors is that CZR shares are now selling near their 52-week low of $5 per share, a far cry from their glory days earlier this year when the shares traded above $17 per share.
In his comments relative to the company, Cramer said: “It has no potential. It should never have gone public. Yet, on April 9, Cramer advised his viewers to buy shares in the country’s largest gaming company. Seven months later, he decided to change his recommendation.
As for the WYNN recommendation, Cramer has consistently included the Las Vegas/Macau gaming company among he companies that he listed as a “buy.”
Cramer, a former hedge fund manager and founder of The Street.com, has a strong following for his daily financial outpourings on “Mad Money.” But his track record, in the opinion of many viewers, has been mixed.
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