Argentinean Stocks Down 80% From Last Market Peak Spells Opportunity [Seeking Alpha]
Grupo Financiero Galicia S.A. - American Depositary Shares, Class B Shares underlying (GGAL)
US:NASDAQ Investor Relations:
gfgsa.com
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Source: Seeking Alpha
Argentinean Stocks Down 80% From Last Market Peak Spells Opportunity Summary I will briefly discuss the historical track record of Argentina's stock market since 1994, which few people have bothered to check. The present crash is, from peak to trough, the worst since I can track back any market information, and August 12 saw the largest single-day drop in recorded history. This spells opportunity, with very high yields in energy and utility stocks up to 25% and even higher in locally listed toll roads. The banking sector is still risky and expensive at a P/B ratio of 2, and tech companies are not cheap by any metric but should befit from a weaker ARS. However, any potential buyer must hold a contrarian view that the new version of Peronism (which is absolutely likely that will hold office from December this year) won't be as bad as the market expects. I have been writing about Argentinean stocks since April 2018, almost 4 months since the market peaked around January 2018. Back then,
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News
- Grupo Financiero Galicia S.A. (NASDAQ: GGAL) was upgraded by analysts at Morgan Stanley from an "underweight" rating to an "overweight" rating. They now have a $92.00 price target on the stock.MarketBeat
- UBS Group AG Seeks US Banking License Expansion to Drive Growth [Yahoo! Finance]Yahoo! Finance
- 5 Low P/E Stocks Paying 3+% Dividends And With Low Debt Levels [Forbes]Forbes
- Grupo Financiero Galicia S.A. (NASDAQ: GGAL) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- Best Momentum Stocks to Buy for November 12th [Yahoo! Finance]Yahoo! Finance
GGAL
Sec Filings
- 12/20/24 - Form 6-K
- 12/11/24 - Form 6-K
- 12/10/24 - Form SC
- GGAL's page on the SEC website