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Traders piled into Wynn Resorts on Wednesday, following the resignation of founding CEO Steve Wynn, who has been accused of sexual harassment and assault (he denies the allegations).

Bottom line: Wynn stock is still around 13% lower than before the allegations were first published by the Wall Street Journal.

Expand chart
Data: Money.net; Chart: Axios Visuals

Today's bump may suggest faith in new CEO Matt Maddox, even though Wynn Resorts said the following last year in an SEC filing:

Our ability to maintain our competitive position is dependent to a large degree on the efforts, skills and reputation of Stephen A. Wynn... If we lose the services of Mr. Wynn, or if he is unable to devote sufficient attention to our operations for any other reason, our business may be significantly impaired.

Another possibility is that traders believe the casino empire will eventually be broken up, and that it's currently valued lower than the sum of its parts.

Go deeper

Ex-Theranos CEO describes alleged abuse by former boyfriend and company exec

Illustration: Aïda Amer/Axios

On her fourth day of trial testimony, ex-Theranos CEO Elizabeth Holmes described her 10-year romantic relationship with former president Ramesh "Sunny" Balwani as controlling, and said he would sometimes "force me to have sex with him when I didn’t want to."

Why it matters: While Balwani has also been similarly charged with fraud, the two are being tried separately, in part because some of Holmes' defense hinges on blaming him.

Amazon ordered to redo union vote in Alabama

Photo: Patrick Pleul/picture alliance via Getty Images

A U.S. National Labor Relations Board (NLRB) official on Monday called for a re-vote in a union election at an Amazon warehouse in Bessemer, Alabama.

Why it matters: The move could set the stage for another organizing drive at the e-commerce giant, which has, so far, fought off unionizing efforts in the U.S.

Pentagon to probe 2019 Syria strike after reports of dozens of civilian casualties

Secretary of Defense Lloyd Austin on Nov. 20. Photo: Mazen Mahdi/AFP via Getty Images

Defense Secretary Lloyd Austin has ordered a new investigation into a 2019 U.S. airstrike that killed around 80 people, including dozens of women and children in Syria, the New York Times reports.

Why it matters: The move comes after the Times reported this month that the Pentagon attempted to keep the strike and casualties under wraps, failing to investigate the decision behind it even after questions were raised internally.