South Jersey Energy LLC (SJI US) is a moderate-sized energy and public utilities company operating in the United States. It mainly provides natural gas and associated services. Quoted equity prices dropped almost 20% over news about possible secondary offering. In our view, the adverse effect of this has already been considered in current price.
American stock markets opened on Monday with a fairly good growth
S&P500 index and NASDAQ technology index reached new historical highs. Later, quite logically, the indexes somewhat dropped, and then were moving in different directions.
The key American stock indexes were growing on Friday except for Nasdaq hovering around zero
However, banks (Federal Reserve released results of stress tests) and real economy (approval of Biden’s infrastructure plan) were in focus rather than technologies.
American stock markets were recovering from the last week’s losses
Continuing verbal interventions by policymakers and major investors had calmed the market down regarding prospects of stimulus wrapping up by Federal Reserve. For how long?