Connect with us
  • tg

Stock Markets

What is the most profitable stock market? Bloomberg called it the most profitable stock market in 2022

letizo News

Published

on

what is the most profitable stock market

What is the most profitable stock market? The stock market of Turkey, which is the most profitable stock market in the world, has become the growth leader this year, ahead of U.S., European and Asian platforms, Bloomberg wrote. The benchmark index Borsa Istanbul 100 (BIST 100) since the beginning of the year rose 78% in dollar terms.

In lira terms, the index, which includes shares of the 100 largest Turkish companies listed on the Istanbul Stock Exchange, has risen by more than 150% since January. This was the best result since 1999, the publication calculated. Most European financial markets have shown negative dynamics this year.

What is the most profitable stock market?

Turkey’s stock market hit an all-time high in November 2022 as private investors invested in Turkish assets to protect against high inflation. The Borsa Istanbul 100 index rose to a new record high of 4,784 points in trading on Nov. 16. During trading on Tuesday, Nov. 22, the BIST 100 index gained 3.6 percent to trade at 4,734 points.

Domestic investors are investing in stocks as Turkey’s central bank pursues a policy of lowering interest rates to spur economic growth, even as the country’s inflation rate exceeds 80 percent. Despite high inflation, the country’s regulator has conducted monetary policy easing cycles in 2021, which goes against current monetary policy. The rate cut has helped weaken the Turkish lira and turned equities into one of the few income-generating havens for investors.

Inflation in Turkey surpassed 85% in October for the first time in 25 years, and while the country’s central bank predicts it could fall to 65.2% by year’s end, price growth remains among the highest in the world.

Stocks have become favorites of Turkish investors. The number of stock trading accounts opened by private investors rose 32% this year to 3.1 million as of Nov. 18, according to Turkey’s Central Securities Depository.

According to Evren Kirikoglu, founder of Istanbul-based Sardis Research Consultancy, Turkish stocks are likely to remain attractive to investors for at least the first half of next year, even as inflation in the country begins to decline.

Earlier we reported that the U.S. stock market was up more than 1% for the day.

Stock Markets

Skechers CEO sells shares worth over $1.8 million

letizo News

Published

on

Skechers CEO sells shares worth over $1.8 million
© Reuters.

Skechers USA Inc . (NYSE:) has reported several transactions involving its shares by company insiders, including the Chief Executive Officer, Robert Greenberg. According to the latest filings, Greenberg sold a total of 30,339 shares at prices ranging from $61.11, amounting to over $1.8 million.

The transactions, which took place on March 15, 2024, were part of a series of recent insider activities at the footwear company. On the same day, Greenberg also received 59,650 restricted shares of Class A Common Stock as an award, with a portion vesting over the next three years based on continued service with the company. These shares are subject to performance-based metrics that will determine the final number of shares earned.

Another transaction reported on March 14 involved the exercise of options where Greenberg disposed of 31,176 shares at a price of $61.42 per share, which totaled approximately $1.9 million. The shares were part of a performance-based stock award granted in March 2021, which were linked to the company’s total stock return over a three-year period.

The filings also noted the award of additional performance-based shares that are eligible to vest based on the company’s achievement of certain performance objectives over the next three years. These transactions are a routine part of executive compensation and are often scheduled in advance.

Investors and market watchers closely monitor insider transactions as they can provide insights into executives’ perspectives on the company’s future performance. Shares of Skechers USA Inc. are publicly traded, and such disclosures are required by regulations to ensure transparency in the financial markets.

InvestingPro Insights

Amidst the recent insider transactions at Skechers USA Inc. (NYSE:SKX), investors might find it useful to consider the company’s current financial health and market performance as reflected by InvestingPro metrics. Skechers is trading at a P/E ratio of 17.16, which is considered low relative to its near-term earnings growth. This indicates that the stock may be undervalued given its earnings potential, a point underscored by the adjusted P/E ratio for the last twelve months as of Q4 2023, which stands slightly lower at 16.92.

The company’s liquidity position is also robust, with liquid assets surpassing short-term obligations, suggesting financial stability and the ability to meet immediate liabilities. Furthermore, Skechers operates with a moderate level of debt, which may provide some comfort to investors concerned about financial leverage in uncertain economic times.

From a performance standpoint, Skechers has experienced a large price uptick over the last six months, with a 29.57% return, reflecting strong investor confidence. This is coupled with a notable 7.47% revenue growth in the last twelve months as of Q4 2023, which could be a positive signal for future profitability—a sentiment echoed by analysts who predict that the company will be profitable this year.

For those seeking more in-depth analysis, there are additional InvestingPro Tips available, including insights on Skechers’ high return over the last decade and its lack of dividend payments to shareholders. To access these insights and more, investors can visit: https://www.investing.com/pro/SKX. Moreover, users can take advantage of the special offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking a treasure trove of financial data and expert analysis.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Continue Reading

Stock Markets

China Resources Beer stock target raised, retains Buy rating

letizo News

Published

on

China Resources Beer stock target raised, retains Buy rating
© Reuters.

On Monday, Jefferies maintained a Buy rating on China Resources Beer Holdings Co Ltd. (291:HK) (OTC: CRHKY) and slightly increased the stock price target to HK$44.67 from the previous HK$44.50. The firm’s adjustment reflects modest earnings revisions and confidence in the company’s strategic direction.

China Resources Beer is embarking on its third three-year plan, emphasizing a premiumization strategy for its brewery operations.

The company aims to dominate the RMB12-15 price segment with its Heineken (AS:) brand. In addition, for its baijiu business, China Resources Beer is committed to achieving RMB10 billion in sales within the next three to five years. This goal will be pursued through a dual-brand strategy, retail price control, and a focus on five key provinces.

The marginal increase in the stock price target to HK$44.67 is attributed to revisions in earnings expectations. Jefferies’ analyst notes that the company’s strategic efforts are well-aligned with its aspirations to lead in its selected market segments.

China Resources Beer’s dedication to its premiumization approach and the baijiu business’s targeted growth plan are key components of the company’s ongoing efforts to enhance its position in the market. The firm’s approach to controlling the retail price and concentrating on strategic provincial markets is expected to contribute to achieving its sales objectives.

Investors have been provided with the updated price target as a reflection of the company’s potential trajectory based on its current strategies and market initiatives. The maintained Buy rating indicates a positive outlook on the stock’s future performance.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Continue Reading

Stock Markets

Super Micro Computer stock falls after S&P 500 addition

letizo News

Published

on

Super Micro Computer stock falls after S&P 500 addition
© Reuters. Super Micro Computer (SMCI) stock falls after S&P 500 addition

The Super Micro Computer (NASDAQ:) stock price declined more than 9% on Monday, the day the server-maker was added to the S&P 500.

At the start of March, S&P Dow Jones Indices announced changes to the index, saying Super Micro Computer and Deckers Outdoor Corp will replace Whirlpool and Zion Bancorporation in the S&P 500, respectively.

SMCI’s stock has been a significant winner in the last 12 months, rising an enormous 897% as the company continues to benefit from the surge in artificial intelligence demand. The company has become a go-to supplier for businesses and governments eager to participate in the AI boom.

The inclusion of SMCI stock in the S&P 500 means it is the index’s new top one-year performer. However, the SMCI stock price is currently trading at $968 per share after a 9.55% decline on Monday. If, as expected, SMCI shares do close lower, it will be their third down day in a row following an increase that saw them reach an intraday high of $1,229 last week.

“Supermicro is honored to be included in the prestigious ,” said Charles Liang, President and CEO of Supermicro. Liang has led the company for its entire history.

“This achievement shows the dedication and hard work of our entire worldwide team to deliver green computing and our Building Block Architecture to become a leader in the emerging AI space as large and small organizations move toward higher productivity,” he added.

Like Nvidia, SMCI has been a frontrunner in the AI boom. Its servers are the hardware used to run AI chips from Nvidia and other producers. In a recent interview with The Wall Street Journal, Liang said that the SMCI base in San Jose, California, is just a 15-minute drive from Nvidia’s headquarters in Santa Clara, their “engineering teams are able to work together from early morning to midnight.”

Continue Reading

Trending

©2021-2024 Letizo All Rights Reserved