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- 4 of the stocks under the scrutiny Thursday have traded bearish.
- 1 stock traded flat while 1 of the stocks to be discussed Thursday traded bullish.
- Factors like COVID-19 precautions and new announcements have led these stocks to gain or lose.
With the economy witnessing new surprises every day, stocks keep on fluctuating. Simply put, when a particular stock has more buyers on a particular day, it tends to trade bullish or in green, while when there are fewer buyers and more seller in a day, the stock trades bearish or in red. This can depend on several factors such as the recent announcements made by the stock companies about the prevailing market or the economic conditions. Let’s have a look at these NZX50-listed stocks to see how they are doing Wednesday.
Ryman Healthcare (NZX:RYM)
One of the leading dual-listing businesses in the country, Ryman Healthcare is responsible for running 34 retirement villages across the country. With a resident strength of about 11,600 and staff of about 5,700, this is one of the biggest organisations of its kind. On 3 March, the Company announced the appointment of Cameron Holland as the first CEO for its Australia vertical while Chris Evans is to be appointed the CCO or the Chief Construction Officer. Gordon MacLeod, the Chief Executive for Ryman Healthcare, is of the view that they are thrilled to achieve the targets of opening five functional villages in the year 2020.
On 18 March, Ryman Healthcare traded at NZ$15.750, down by 1.25%, at the time of writing.
Image Source: © Fahrwasser | Megapixl.com
Synlait Milk Limited (NZX:SML)
This dairy-based Company deals in a number of nutritional milk products by using expert farming techniques. With verticals in different cities across the country, Synlait Milk is a leading listed company in New Zealand. On March 4, the Company announced that it was withdrawing its full-year guidance because of the uncertainty in the market. The last guidance update that the Company released was on 21 December 2020. However, the new turn of events has the potential to have adverse impact on the earnings guidance for FY21. Global delays in shipping, volatile commodity prices, and the drop in the infant formula power production, can be major reasons.
On 18 March, Synlait Milk Limited traded at NZ$4.060, down by 0.49%, at the time of writing.
Image Source: © Airubon | Megapixl.com
Genesis Energy Limited (NZX:GNE)
This diversified energy-based Company in New Zealand is known for electricity generation with the help of a huge range of renewable resources. The announcement of the completion of Waipipi Windfarm’s construction by Tilt Renewable Limited on 5 March was a major milestone, as it would mean 31 functional turbines, which will help in producing electricity in as many as 65,000 homes. According to the interim results revealed by the Company, the EBITDAF was NZ$217M, which is NZ$50M more than pcp. The Net Profit earned by them in the duration was NZ$53M, which was NZ$44M higher than that of the same time last year. The Company announced an interim dividend of 8.60 cents per share, which was 0.9% more than the pcp.
On 18 March, Genesis Energy Limited traded at NZ$3.715, down by 0.93%, at the time of writing.
Cannasouth Limited (NZX:CBD)
This Company deals in the medical Cannabis-related products such as Cannabidiol etc. According to the preliminary interim results revealed by the Company on 25 March, the operating revenue earned by the Company was NZ$1,31,000 as compared to the NZ$53,000 earned in PCP. The cash on hand was recorded to be NZ$9.2M, whereas it was NZ$8.5M in the PCP. The Company aims at becoming a sustainable and successful medical cannabis business.
On 18 March, Cannasouth Limited traded at NZ$0.530 at its last close.
Sky City Entertainment Group Limited (NZX:SKC)
This dual-listed Company offers services in the field of tourism, entertainment, and leisure. Following the detection of a new COVID-19 case in Auckland, the Company offered stricter guidelines for functioning as well as maintaining social distancing. Its properties in Queenstown and Hamilton shall maintain strict rules to ensure the safety of the guests and the staff alike. According to the latest (12 March) announcement, the Auckland property has been opened for operations together with Auckland moving from Level 2 of Alert to Level 1.
On 18 March, SkyCity Entertainment Group Limited traded at NZ$3.360, down by 2.33%, at the time of writing.
Freightways Limited (NZX:FRE)
Functioning in Australia and New Zealand as a business mail and package service providing Company, Freightways Limited is known to be primarily focussed on information management. According to the half-year results for 31 December 2020, declared in late February, the Company revealed that it should pay a dividend in April 2021, owing to the strong performances witnessed in the Business Mail and Express Package segment. The Per item PFE witnessed a position of $1.01 for each item.
On 18 March, Freightways Limited traded at NZ$11.290, up by 1.80%, at the time of writing.