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Ameristar Casinos, Inc. Message Board

  • OEX52 OEX52 May 19, 2009 6:15 PM Flag

    Shorted over $20/share

    While I closed my earlier short position at a profit, I went short again at the current prices of $20+ per share. I just do not see the value here. Price to book is the highest in the industry. There are no profits, debt covenants just modified to prevent a default. Consumer is retrenching although vices are, I admit, somewhat recession proof. Still with the poor state of the economy and the threat of swine flu and lack of decent fundamentals, ASCA seems to be very overvalued at these prices and I went short once again. Hope to make some money here, but I may face some pain and have to be patient. Time will tell.

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