I've been accused of being a disgruntled ASCA ex-employee for posting negative messages about ASCA. It's more likely that the people posting positive messages are CURRENT ASCA employees. How else could investors totally ignore this stock's horrible performance compared to its competitors for way over 6 months? I'm still waiting for someone's explanation for why this stock is still down 40% when other casino stocks like BYD, ISLE and others are within 10% of their all time highs. No one can explain why ASCA is down more than AGY, which got hit bigtime by large tax increases in Indiana and Illinois, and lowered its forward earnings A LOT. There has not been a single downgrade of ASCA, and it has not had any bad news released, yet it is the second worst performing casino stock. I'm still waiting for some explanation, but investors here would obviously just like to keep their heads in the sand and do some withful thinking, because there is not rational explanation other than bad news that insiders know about.
Below is a summary of ASCA versus all of the casinos you have mentioned plus a few more -- BYD, ISLE, MGG, HET, AGY
Two-year period of stock performance: ASCA is the #1 (just under 400% return on investment!)
Five-year period: ASCA is #2 just below ISLE
Over One-year period: ASCA has returned additional 45%. This is compared to the S&P500 and Nasdaq which has destroyed many portfolios.
I cannot imagine that you could have possibly picked a better stock to add to your portfolio since 2000. Put $10k in Microsoft or IBM or AOL and you would have anywhere from $4-8k right now. Put it in Ameristar and you would have $38k!!
<<How else could investors totally ignore this stock's horrible performance compared to its competitors for way over 6 months?>>
Maybe because most investors in ASCA are longer term holders and just don't look at the last 6 months. Just because you bought the stock in the last six months, at its highs, doesn't mean everyone else did the same.
Check out the 52 week low and compare it to today's stock price. How many gaming stocks have outperformed ASCA in the last year. Not many I bet. And, it's still selling at a very cheap PE so the future looks good. But, I guess nobody should care about that because you happened to have lost money on the stock.
Guess what? The stock market involves risk. Stocks can go down as well as up.
Just because you bought at the top, doesn't mean the CEO and/or the company sucks. It just means that you bought at the wrong time.
As to why the stock is down in the last 6 months, I guess it's easy to say now that the stock got ahead of itself. If you haven't noticed, the stock market in general is having a terrible year and ASCA hasn't bucked the trend. Also, people are worried about higher taxes in MO and Iowa. Also worried about slots in Nebraska. People are waiting to see how St. Charles will do.