Grupo Financiero (GGAL) Soars 21.6% as US Readies Help to Struggling Argentine Economy

We recently published 10 Big Names With Whopping Gains; 6 Jump All-Time Highs. Grupo Financiero Galicia SA (NASDAQ:GGAL) is one of the best performers on Thursday.

Grupo Financiero rallied for a second day on Thursday, surging 21.65 percent to close at $34.50 apiece as investors turned optimistic for its stock after the Trump administration announced that it was finalizing a rescue plan for Argentina’s ailing economy.

Grupo Financiero Galicia SA (NASDAQ:GGAL), one of the largest banks in Argentina, rallied alongside the Argentine markets after the US government said it acquired Argentine pesos and finalized a $20 billion currency swap with Argentina’s central bank in a deal aimed at recovering the country’s financial woes.

“Argentina faces a moment of acute illiquidity. The international community—including [the International Monetary Fund]—is unified behind Argentina and its prudent fiscal strategy, but only the United States can act swiftly. And act we will,” said Treasury Secretary Scott Bessent in a post on X.

In other news, Grupo Financiero Galicia SA (NASDAQ:GGAL) earlier received a Buy recommendation and a $60 price target from HSBC.

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Disclosure: None. This article is originally published at Insider Monkey.