2024-02-04 10:01:38
Trading on Wall Street followed a positive trend on Thursday and Friday. Cumulatively, in the last two trading days of the week, the Dow Jones index rose by 1.3%, the S&P 500 index rose by 2.3% and the Nasdaq index rose by 3.1%, amid positive reports from technology companies. Also some Israeli companies (or those related to Israel) stood out in trade these days.
● Meta took off thanks to it, Apple went down: the dangerous dependence of the technology giants in China
● From 6 billion dollars to a value of almost 0: this is how one of the most promising startups in the world crashed
Outbrain: Blackrock became interested
Outbrain’s stock rose 4.4% on the Nasdaq on Friday, but from the beginning of 2024 the stock records a negative return of about 7%. Outbrain, under the management of joint CEOs Yaron Galai and David Kostman, provides content recommendations to Internet surfers and is traded at a value of 204 million dollar. On Friday, the investment giant Blackrock reported its holdings in Outbrain shares: Blackrock owns 5.3% of the shares, which is currently worth about $11 million. Previously, Blackrock did not have an interest in the company. Outbrain arrived on Wall Street in the peak year of technology when it was issued in the summer of 2021 at a value of 1.1 billion dollars, and like a large majority of the technology companies that came to the public market with it, it too lost a significant part of its value and is trading at a share price that is 79.7% lower than the issue price.
Nikes: The positive trend continues
Nikes stock continues its positive trend for no apparent reason and without any substantial report from the company. On Friday, it jumped on the Nasdaq by 9.2% in a small trading cycle, thus completing an increase of 27.7% for the week and 39% since the beginning of the year. The company’s market value now reaches 881 million dollars.
Nikes of Herzliya, managed by co-founder Yair Nichmad, was floated on the Tel Aviv Stock Exchange in May 2021 in the model of an international offering and joined trading on Nasdaq in 2022. The company provides payment solutions for operators of vending machines. Last week Nikes reported the appointment of Aharon Greenberg to the position Chief Strategy Officer.
Altice USA: The shares of the sector weakened
The communications company Altice USA is controlled by Patrick Derhi, who is also the owner of the Israeli communications company Hot. Altis USA stock traded on Friday on the New York Stock Exchange with a sharp drop of 11.3% and ended the week with a drop of 17.9%, to a share price of $2.2, which reflects the company’s market value of $1 billion. Since the beginning of 2024, the stock has lost almost a third of its value.
The decline on Friday was not unique to Altice, and other shares from the sector weakened, such as Comcast’s share which fell by 3.5%, and this against the background of disappointing reports published by the cable communications provider Charter Communications, whose stock fell by 16.5%.
Altice recently reported the issuance of bonds totaling $2.05 billion that carry an annual interest rate of 11.75% and are scheduled for maturity in January 2029.
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