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US stocks drop after Saudi attacks, energy stocks witness a fall

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saudi drone attack

Stocks in the United States dropped after the global economy was shaken by the attacks on crude facilities in Saudi Arabia. The attacks took place on the weekends which impacted and they involved 5 percent of the globe’s supply. However, the impact of the drop in US stocks was reduced by energy stocks which rose because of a significant increase in crude prices.

There was a 20 percent increase in oil prices after the attacks took place on the world’s largest exporter of oil. The prices eased after multiple countries announced that they would use emergency reserves in order to avoid wild fluctuations in supply.

The energy sector has been having quite a rough time during this year. However, the S&P 500 energy .SPNY increased by 2.36 percent recently. Shares of various energy companies like Marathon Oil Corp MRO.O, Apache Corp and Hess Corp experienced gains. 

One of the major concerns is that the rise in oil prices may result in reduced spending on other commodities, said Rick Meckler, a partner at Cherry Lane Investments.

Investors pulled from shares of cruise lines and airlines operators as the oil prices were anticipated to rise. There was a 2 to 5 percent decline in shares of American Airlines Group Inc., Carnival Corp and Delta Air Line Inc.

At 11:34 AM ET, the Dow Jones Industrial Average stood at 27,086.13, down by 0.49 percent. Similarly, the S&P 500 reduced by 0.35 percent. 9 sectors out of 11 at the S&P fell down. 

Other stocks that fell include that of General Motors Co which lost 3.1 percent after its workers from United Auto Workers union went on a strike on Sunday. 

The market experiences many fluctuations as shown by the S&P index which reported 4 new highs and 1 new low in the 52-week period. On the other hand, Nasdaq reported 32 and 17 new highs and lows. 

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VYGVF’s Stock Price Decreased by 16.08%: Here’s How it Happened

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Voyager Digital Ltd.’s stock price was trading at $23.02 on 7th April, 2021. A loss of 16.08% or $4.41 from the previous closing price, $27.43 (6th April) occurred. On April 5th, the price went up to $29.41 and has been on a downfall since. The range was between $22.90 – $27.43 on April 7th.

Voyager Digital Ltd.(VYGVF) is a publicly-traded holding company, whose subsidiaries operate a licensed crypto-asset platform that provides investors with a turnkey solution to invest in and trade crypto assets, is pleased to provide stakeholders with a business update for the month ended March 31, 2021. The stock price of Voyager Digital Ltd.(OTCMKTS: VYGVF) has been on a steady decline for the last two days. The price went as low as $22.06, which was also the closing price on 7th April. Voyager Digital Ltd.(CSE: VYGR) also achieved their all time high price, trading at $29.00 on 5th April.

Voyager Digital ltd. (OTCMKTS: VYGVF CSE:VYGR) announced the following key metrics as of March 31, 2021:

  • Assets Under Management (AUM) exceeded US$2.4 billion
  • Total Funded Accounts at the end of March 2021 were over 270,000
  • Total Verified Users on the platform were over 1 million

Key monthly operating metrics for January through March 2021 are as follows:

March 2021 February 2021 January 2021
Net Deposits $650M $400M $170M
New Funded Accounts 95,000 70,000 65,000
New Verified Users 395,000 190,000 250,000
Principal Value traded $2.5B $1.6B $840M

All figures are preliminary and unaudited and subject to final adjustment. All amounts are in U.S. dollars, unless otherwise indicated.

“March was another record-setting month for Voyager as our retail-focused, zero-commission platform continued to attract an active community for both Bitcoin and our industry leading offering of over 50 altcoins,” said Stephen Ehrlich, Co-Founder and CEO of Voyager ( OTCMKTS: VYGVF CSE:VYGR). “All of our significant revenue-driving metrics increased in excess of 35% during the month of March from the previous month. As demand continues to accelerate for the Voyager Platform, we are enhancing our infrastructure to meet this swiftly growing demand and accommodate anticipated future growth as we expand our suite of offerings in the coming years.”

Mr. Ehrlich concluded, “Our management team is focused on the long-term opportunity to capture significant market-share within this rapidly expanding industry. The initiatives we are embarking on, such as adding new products to our platform and further geographic expansion, are designed to competitively position Voyager for long-term success. We will continue to execute on these initiatives and look forward to providing our investors another update on our next quarterly conference call.”

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AFTPY Stock Prices Increased By 8.30%: Here’s Why It Happened

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Afterpay Limited’s (OTCMKTS: AFTPY)’s stock price increased by 8.30%. The price has been fluctuating for the last week a lot. It was $80.57 when the market closed on 1st April and $82.00 when the market closed on 5th April. On the 6th, the price hiked to $88.81. The price during the opening and closing of the market on the 6th was 87.68 and 88.81 respectively. The price hiked by $6.81 over the last two days.

Sarah-Jayne Smith, CEO of Magpies & Peacocks said: “At Magpies & Peacocks we always ask ourselves how we can look at a solution from the perspective of People, Planet, and Profit – how can we tackle something head-on sustainably by doing right by it socially, environmentally and economically. It is a mindset we apply to all things, no matter how small – everything from the products we create or buy, and how we teach a skill, through to our carbon footprint as a non-profit organization. It can create a tremendously influential ripple, not only in winning hearts and minds but in affecting real change. We are thrilled to partner with Afterpay as part of that process and are humbled to be part of their Top Up Donation program.”

Afterpay Limited (OTCMKTS: AFTPY) is transforming the way we pay by allowing customers to receive products immediately and pay for their purchases over four installments, always interest-free. The service is completely free for customers who pay on time – helping people spend responsibly without incurring interest or fees when you pay on time. As of December 31, 2020, Afterpay is offered by nearly 75,000 of the world’s favorite retailers and is used by more than 13 million active customers globally.

Afterpay (OTCMKTS: AFTPY) is currently available in Australia, Canada, New Zealand, the United States, and the United Kingdom, France, Italy, and Spain, where it is known as Clearpay. Afterpay is on a mission to power an economy in which everyone wins.

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AMC stock price bounced back( 13.35% growth): Here’s Why it happened

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AMC ( NYSE:AMC ) ’s stock price increased by 13.35% on 5th April 2021. The price increased from $9.36 to $10.61 within one day. B. Riley analyst Eric Wold said it’s time to buy, citing an improving balance sheet outlook and as a strong opening weekend for ‘Godzilla vs. Kong’ pointed to a resurgence in demand.

 

AMC(NYSE:AMC) announced that the movie theater chain’s stock AMC, +13.35% bounced 14.6% in afternoon trading, following a 32.8% tumble in the meme stock over the past two weeks.

 

Wold raised his rating to buy from neutral and boosted his price target to $13, which was 39% above Thursday’s closing price, from $7.

 

“We have remained impressed with management’s ability to weather the pandemic headwinds by both strengthening the balance sheet and negotiating with landlords to improve the cash runway into 2022,” Wold wrote in a note to clients. “And as the largest exhibitor in North America that also operates the highest number of IMAX screens, we view AMC as well positioned to benefit from the industry’s projected resurgence and return to pre-pandemic attendance levels by 2023.”

 

Wold said, “although the North American theater base is only about 60% open, and with seating capacity limitations averaging from 25% to 50%, the movie still took in about $48.5 million in domestic box office revenue. That compares with the $47.8 million that ‘Godzilla: King of the Monsters’ opened with in May 2019.”

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