no one wants to be taxed.
I've been out of Wynn for a month or so. I am now back, all in for this dividend.
Some not very smart people have given everyone a huge discount on the div this quarter.
It's stupid to say "no one wants to be taxed". It's free money. Why would I care if I pay my taxes? You think Warren Buffet says no thank you?
If someone offers me $1M of free money, am I going to say "no thank you. I don't want to pay taxes on it". Doesn't that sound stupid?
People don't sell right before a div to avoid a tax. At least not rational ones.
If anyone sells right before ex-div, it's to get the cash a couple of weeks earlier.
And they certainly don't sell off by more than the div (which is now $1/share, btw).
This is people taking profits from the past two days' trading. The volume isn't all that strong, either.
not profit taking more like sell before it collapses.