Heard of The Da Vinci Code? How about Da VICI Code? Here’s my take on VICI Properties ($VICI) (November 13, 2020)VICI
VICI Properties ( NYSE: VICI ); I like this chart, I like this company. First of all, they have got a 5.2 percent dividend; we just put this on our active trade list today. They have got a 5.2 dividend; it’s a REIT, real estate investment trust. They own casinos; they own Caesars (NASDAQ: CZR ), MGM ( NYSE: MGM ), Wynn ( NASDAQ: WYNN ), Las Vegas ( NYSE: LVS ), all of these things and they also own golf courses. By the way, I don’t know the exact names of the casinos you can look it up on their website.
How can that be Dan? What about Steve Wynn? How that could be is, they own the real estate and then they lease that back to the casinos. A nice business for them, a nice business for the casinos, because guess who has an issue if there is a land issue? It’s these guys, VICI Properties ( NYSE: VICI ), as opposed to Steve Wynn or Caesars having a problem, so it’s a good deal all the way around.
What I like about this is, it was squeezing here, looking like a nice upside break out. Well, that didn’t work out too well. The stock fell down so that was the end of that, but then it recovered and now it’s up here. And it came back to test the breakout here and now it’s up again on volume.
I am doing kind of micro-surgery on the action; but this had a heck of a nice run here, over 10 percent before it sold off. It gapped up, I don’t know why, probably earnings or something, it gapped up and then sold off from the opening gap bigly, like 6.5 percent; it fell down even lower. Buyers came in here and then are ultimately taking it up.
This is a stock that a lot of people got shaken out of and now I think it’s got room for much higher prices. I all ready bought, but I am buying here and I am keeping a stop, giving it about 9 or 10 percent room to wiggle, room to jiggle. But let’s leave the casinos out of it and I think that the stock is ultimately going to run higher. So buy this stock and maybe you don’t have to sit at the Blackjack Table to be able to get a free drink.