Las Vegas Sands (LVS) Plunges 34% on Mixed Securities Offering

Shares of Las Vegas Sands (NYSE: LVS) are once again seeing a double-digit percentage move this morning. The stock is currently trading around $7.66, down more than 34% from yesterday's closing price of $11.66.

As reported in a Form 8-K this morning, Las Vegas Sands updated its consolidated financial statements for the three years ended December 31, 2007, and has determined that EBITDA levels are not sufficient. As a result, the stock is down this morning on news that has filed for an automatic mixed securities shelf with the SEC. Traders are probably bidding the stock down this morning as such an offering creates further dilution to Las Vegas Sands' current shareholders.

Las Vegas Sands shares have been extremely volatile recently; after setting a new 52-week low at $4.32 on October 28, the stock bounced to a near-term high at $16.81, marking a 289% return in just 5 days of trading. Since hitting that near-term high, the stock has now fallen more than 54% based on pre-market trading levels.

Las Vegas Sands Corp. and its subsidiaries develop multi use integrated resorts worldwide.

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