Why Grupo Financiero Galicia S.A. Stock Popped 10% Today [The Motley Fool]
Grupo Financiero Galicia S.A. - American Depositary Shares, Class B Shares underlying (GGAL)
US:NASDAQ Investor Relations:
gfgsa.com
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Source: The Motley Fool
Money makes the world go round, and pesos make this stock go up and down. Rich Smith ( TMFDitty ) Sep 17, 2018 at 5:22PM What happened Tiny currency fluctuations continue to have an outsized effect on the fortunes of Argentine bank Grupo Financiero Galicia S.A. ( NASDAQ:GGAL ) . On Monday, for example, a mere 1% rise in the value of the Argentine peso ignited a significant stock rally for Grupo Financiero Galicia, sending its shares up 10.4% by the closing bell. So what On Sunday, one U.S. dollar bought 39.96 Argentine pesos. By Monday's close, that same dollar was worth only 39.54 pesos -- a 1.1% appreciation in the value of Argentina's currency. When you consider that the Argentine peso has lost more than half its value over the course of the past 12 months, a 1.1% wobble in the exchange rate is a pretty small change (pun intended) in the
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News
- Grupo Financiero Galicia S.A. (NASDAQ: GGAL) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
- HSBC Joins Firms Exiting Argentina Amid Milei Economic Makeover [Yahoo! Finance]Yahoo! Finance
- EMERGING MARKETS-Mexico's peso slips after inflation data; Latam stocks rise [Yahoo! Finance]Yahoo! Finance
- HSBC to take $1bn hit on sale of Argentina unit [FT.com - Mergermarket]FT.com - Mergermarket
- HSBC to take $1bn hit on sale of Argentina unit [Financial Times (FT.com) (UK)]Financial Times
GGAL
Sec Filings
- 4/9/24 - Form 6-K
- 3/27/24 - Form 6-K
- 3/11/24 - Form 6-K
- GGAL's page on the SEC website