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Jim Cramer Says Change Your Thinking to 'WYNN'

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Jim Cramer, in this exclusive sneak peek from his August Action Alerts PLUS investing call, said Wynn Resorts  (WYNN) - Get Free Report is testament of a universal investing truth. When the story changes, it's time to change your approach to the stock. 

Transcript: 

Let's start with the one that's the most likely to participate in this phase of the rally that we own, Wynn Resorts. Now, if you recall in the last conference call, I talked about two stocks that I couldn't have been that wrong on, Wynn and Nucor. What can I say? The latter proceeded to rally 30 points, nice work, if you can get it.

The former Wynn, it hasn't performed as I'd like, hasn't panned out at all, frankly. But I think that's about the change because the facts have changed, and you have to change with those. John Maynard Keynes said it, and I always echo it.

The stock got socked, one-two punch by Delta and by the People's Republic of China putting restrictions on Macau. Now, of course, we just learned that the restrictions are off. They still have a seven-day, but not a two-day for testing. And we are back in wide open mode because of this notion that the Pfizer approval has changed everything.

I think people will be looking for stocks that are not Chinese-based that can still capture the Chinese rally as well as for travel and leisure stocks that haven't moved that much yet versus when they traded pre-Delta. And of course, here I'm thinking about Vegas. And that's Wynn.

To hear Cramer's full August Action Alerts PLUS call or to take a look at the latest moves from the AAP team, head to Action Alerts PLUS today. 

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