MM was on the right end of takeover interest in Crown Resorts (CWN) although the regulatory risks and hassles have capped the stocks upside since May, if we had been nimble and had sold CWN above $13 we would be looking to re-enter at current levels below $12 as the risk / reward becomes more attractive as the stock slips lower on ongoing compliance concerns.
MM remains long and bullish CWN
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