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Burlington Reporter

Friday, November 22, 2024

Burlington-based Medical Equipment and Services company Laboratory Corporation of America Holdings (LH:NYQ) sees value fall 100% in August

Stock market 14 edited

Value in Medical Equipment and Services stocks fell five percent in August from the previous month.

The strongest performing Medical Equipment and Services company in North Carolina was Asensus Surgical Inc. (ASXC:ASQ), sitting 100.1 percent higher to sell at $0.544.

Laboratory Corporation of America Holdings (LH:NYQ) fared the worst among North Carolina companies, suffering a 100 percent drop to $228.01.

The Telecommunications Equipment industry was the month’s best-performing industry on the market. The market is divided into 45 different industries.

Alternative Energy was the worst-performing industry.

Healthcare and technology stocks are viewed as the safest bets for long-term gains.

Besty Kuekcer with Benzinga.com said healthcare-related stocks, such as hospital conglomerates and insurance companies, have weathered numerous economic crises and still make a profit, suggesting that they are generally a stable investment.

While technology stocks can be more risky, given the boom-bust nature of new tech companies, Kuecker recommended a diverse portfolio of tech companies to strike it big when companies succeed or sell to other larger companies.

For short-term investments, Kuecker recommended “consumer discretionary” stocks, which are sensitive to economic changes but can rise greatly on the back of a strong economy.

Nothing in this article is to be assumed as financial advice.

Individual companies can have several different types of shares across many stock markets. It is possible for different types of shares to see different results on the market.

Rank of stock market industries in August

IndustryPercentage ChangeHighest Positive ChangeLargest Negative Change
Telecommunications Equipment9.6%593,905.5%-99.8%
Beverages7.3%1,994,216.7%-84.6%
Waste and Disposal Services6.9%82,074.6%-99.6%
Precious Metals and Mining6.7%1,107,037.5%-99.9%
Industrial Materials6.4%94.3%-99.9%
Construction and Materials5.7%7,882,515.2%-99.7%
Oil, Gas and Coal5.5%179,989,805.8%-99.9%
Industrial Metals and Mining4.6%22,200,481.6%-99.9%
Pharmaceuticals and Biotechnology3.4%24,595,137.4%-99.9%
Chemicals3.2%9,477,806%-99.9%
Non-life Insurance3.1%5,147,033.9%-99.9%
Aerospace and Defense2.9%12,366,719.3%-99.9%
Electricity2.8%1,839,584,315.6%-86.6%
Retailers2.8%137,727,562.6%-99.9%
Food Producers2.7%11,573,190.4%-99.9%
Life Insurance2.4%316,140.3%-99.9%
Software and Computer Services1.7%41,187,555.7%-99.9%
Personal Care, Drug and Grocery Stores1.7%45,627,660.3%-98.5%
Banks1.1%1,797,053.4%-99.9%
Media0.8%371,393.1%-99.9%
Travel and Leisure0.7%57,605,300.5%-99.9%
Industrial Transportation0.3%3,655,174%-99.9%
Industrial Engineering0.2%21,875,820.5%-99.9%
Automobiles and Parts-0.2%267,941.2%-99.9%
Industrial Support Services-0.4%10,244,374.5%-99.9%
Open End and Miscellaneous Investment Vehicles-0.6%8,045,304.7%-99.9%
Finance and Credit Services-0.8%33,404,043.1%-99.9%
Personal Goods-1.1%6,086,640.6%-99.9%
General Industrials-1.7%8,173,921.9%-96.7%
Consumer Services-1.8%24,597,490.4%-99.9%
Closed End Investments-2.1%10,346,183.5%-99.9%
Gas, Water and Multi-utilities-2.3%45,992,856.2%-99.9%
Health Care Providers-3.8%61,384,128.5%-99.9%
Real Estate Investment and Services-4%340,877.5%-99.9%
Household Goods and Home Construction-4.2%12,834,014.8%-99.1%
Leisure Goods-4.4%18,083,447.9%-99.9%
Technology Hardware and Equipment-4.9%2,212,400%-99.9%
Medical Equipment and Services-5%13,080,516.5%-99.9%
Mortgage Real Estate Investment Trusts-5.2%24,112,387.4%-99.9%
Real Estate Investment Trusts-5.6%59,533,352.3%-99.9%
Electronic and Electrical Equipment-5.8%3,875,001.8%-99.9%
Investment Banking and Brokerage Services-5.8%82,780,743.9%-99.9%
Tobacco-8.5%97,374,604.1%-99.9%
Telecommunications Service Providers-10.7%3,044,594.1%-99.7%
Alternative Energy-45.2%118,190,841.4%-99.9%

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