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A number of stocks fell in the afternoon session after the major indices pulled back (Nasdaq -1.3%, S&P 500 -1.1%) as Israel carried out significant strikes on Iranian nuclear and military sites. This development sent crude oil prices surging, as investors fear potential disruptions to global oil supply and a wider regional conflict.
The conflict intensified market anxiety, compounding existing volatility, especially in risk assets like stocks, and prompting a pronounced shift toward safe-haven assets.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.
Among others, the following stocks were impacted:
Caesars Entertainment’s shares are very volatile and have had 26 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
Caesars Entertainment is down 21.6% since the beginning of the year, and at $25.57 per share, it is trading 43.9% below its 52-week high of $45.55 from October 2024. Investors who bought $1,000 worth of Caesars Entertainment’s shares 5 years ago would now be looking at an investment worth $664.93.
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