The current weakness in the Crown share price could be a buying opportunity. It’s unlikely that the current COVID-related operational impacts are going to deter the interested parties who have put forward takeover offers.
Continue to track the CWN share price and wait for a cross above the 10-day average.
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12/8 update: CWN is now trading above the 10 day average.
18/10 update: Crown recovery continues, buy with a stop loss below $8.75
1/11 update: The recent move back down to $10 is likely to find renewed buying interest. We remain long CWN shares.
22/11 update: Crown has now rallied 25%+ since the trade was opened. As anticipated, Blackstone has pitched a new offer at $12.50 a share in cash, up from its previous bid of $12.30 in May.
