Value Investor: Betting on Crown's long game

Regulatory uncertainty in Macau has sparked market anxiety around Crown Resorts, but there are a few good reasons why its long-term outlook is still positive.

When we last reviewed Crown Resorts (ASX:CWN) in October, the share price was around $13.50. In December, Crown started falling, dropping to a low of $11.74 just two weeks ago. This continued the general downtrend that started in January 2014, when the shares were at $18.00.

Crown has since rebounded, trading around $13.86. What’s driving the volatility?

Figure 1 – CWN Price Chart with daily volumes traded

Source: StocksInValue



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