Virgin Galactic lifts up its head and GameStop enjoys an unexpected pump, no major move for Saipem which is dragged by the green revolution, and Azimut enjoys an excellent rally, in contrast, used car giant Carvana struggles.
Stocks of Saipem, Azimut, Virgin Galactic, GameStop and Carvana in detail
In the wake of high energy prices, as a company in the energy sector, Saipem SpA is taking advantage of bill increases and some rumors leaking out of the Italian government palace (Palazzo Chigi).
The company has apparently been tapped to probe some areas of the seas around Italy in search of new gas fields from which to draw for the energy transition to green.
Meanwhile, the stock traded +2.27% on the stock market, touching €0.96, confirming the upward trend of recent weeks.
Together with Bouygues Travaux Publics and Boskalis, the company has recently completed the installation and ballasting of gravity-based structures (GBS) foundations for the Fecamp offshore wind farm in Normandy.
The works for the Fecamp plant were designed, built and installed with the most stringent green standards imposed by the times we live in and will produce the same domestic energy consumption as nearly 800,000 people.
Saipem and Bouygues Travaux Publics are in the home stretch for the completion of the site inspection and the green light to operate the plant pending the next construction site.
Saipem’s intense activity and long-term orders are rewarding the stock on the market.
Azimut Holding SpA also registered a reassuring +2.62% in trading remaining firmly in the green zone at 17.46 euros.
The advisory and asset management company, which has been listed on the Milan Stock Exchange since 2004, boasts of administering 84 billion euros, and the month of October could celebrate its excellent performance.
In the month just ended, Azimut Holding brought home 742.9 million euros in inflows in 2022 without taking into account that there are still two months to go until the end of the fiscal year.
In ten months, the result touched so far is 6.77 billion euros and the total administered including savings touched 85.68 billion euros.
Across the Atlantic, Virgin Galactic of iconic founder and tycoon Richard Branson continues with its plans to offer mass suborbital space flight.
The stock recovers slightly in the stock market, bringing home an encouraging +5.89% that brings the flying company’s stock back to $5.21 after the last few months in the red in which the company paid for its tendency to sensationalize its potential and create hype without, however, delivering by demonstrating tangible results.
Evidence of this characteristic is the company’s promise that in 2020 (the year of founder Richard Branson’s 70th birthday) it would bring space tourists from the earth to the upper atmosphere on a regular basis, despite some successes and a recent plane crash, the company has made it clear that it has the means to succeed but this apparently cannot materialize until next year, this delay according to some analysts is behind the 7% drop in the company’s stock.
The performance of the relief stock aside has generated concern to such an extent that a New York analyst has initiated coverage on Virgin Galactic Holdings (SPCE) with an underperforming rating.
The company’s bearish trend has been in full swing since the beginning of the year, and according to most capable observers, it does not seem to stem from the bear market but precisely from the company’s internal problems mainly concentrated in project delays that have caused the stock value to lose 80% over the past year.
GameStop Corporation is struggling to take off despite the fact that gaming is increasingly driven by the pay-to-play that is rampant in the younger generation and beyond, the company on the stock market has a setback and loses 2.83% touching $25.75 a share.
Grapevine’s US gaming company is the largest online and physical store of new and used video games in the world, and last year it was the protagonist of a pump especially from Central European countries that as it was born soon came to a halt as it consisted only of speculation.
Despite the setback, stocks are up in recent periods and this for no apparent concrete reason suggesting a new fake pump.
GameStop as of today is the number one trending ticker on relevant social platforms such as Stocktwits and has a session volume of over $11.30 million, with average volume tripling to $4.64 million.
The company has a total equity of 268 million, 20.13% of which is short.
Carvana is enjoying a golden moment but not in the stock market unfortunately. The Arizona company that deals in online sales of used cars is on the rise in the United States and is characterized by a particular business model that is quite futuristic.
Carvana’s stores are a kind of multi-story used car vending machine in which the customer can learn about the features of each vehicle and decide whether to buy or not to buy like at a soda machine.
The business model makes it possible to significantly lower the cost of labor, much to the joy of the company’s coffers, and has enabled Carvana to rapidly spread throughout the territory.
However, the stock on the market loses share due to a less than buoyant car market, stopping at $7.39 per share with a very bad -15.64% today.