These Three Stocks Plunged: APP, GEHC, and APA
“Liberation Day” was not as advertised. Last week, the U.S. president set a baseline 10% tariff on all trading partners. Its tariffs on Vietnam (VNM) and China are especially damaging to global trade. In response, the Nasdaq (QQQ) lost 9.87% last week, more than the S&P 500 (IVV) which dropped by 9.07%.
The steep drop pulled mobile advertising firm Applovin (APP) down by 16.3% last Friday. News that the firm indicated its intention to buy TikTok will not matter. Trump needed to extend the TikTok sales deadline for a second time. This time, for another 75 days.
In late March, Muddy Waters, a short seller, published a bearish analysis on APP stock.
GE HealthCare Technologies (GEHC) closed near a fresh 52-week low. The firm reported a slight improvement in the China market in the last quarter. However, when China hit the U.S. with a 34% retaliatory tariff, investors dumped GEHC stock. Apple (AAPL), which has plenty of its devices manufactured in China, dropped by 13.55% last week.
APA lost 27.44% to close at $15.18. At a forward P/E of 4.38 times, investors are not buying APA stock. The oil firm cut ~ 300 staff on March 19, citing a need to cut structural costs and to ensure its long-term competitiveness.
