The shares of the oil company on Wall Street presented a collapse of almost 30%, which is part of the decrease in the price of international crude oil
The shares of the YPF oil company listed on Wall Street on Monday presented a collapse of almost 30%, amid the generalized market debacle.
At the beginning of the day, the biggest drop was recorded by Tenaris papers of the Techint Group, which ended with a drop of 21.7%, more than five points apart from the oil company.
The 27.1% collapse in YPF is part of the decrease in the price of crude oil that is in line with the international context of the collapse of the value of crude oil that Russia and the Organization of Petroleum Exporting Countries could not contain.
From August 9, the last stock market before the primary elections, until this Monday, the value of the state-owned oil company sank 68%.
According to official data of the company, this Monday the capitalization of the company fell to US $ 20868 million. To take a reference of the magnitude of financial black Monday, until last Friday the firm was worth US $ 2871 million. That is to say that in just one day it lost little more than US $ 800 million.
When observing what happened in recent months, the collapse in the YPF price was much more pronounced. On the last business day before the PASS, the company’s papers had a price in New York of US $ 16.68, that is, the firm was worth US $ 6560 million. The collapse in its valuation in relation to this Monday reaches 68%.
On Wall Street, the Dow Jones industrial index faced a landslide of 7.8% and the technological Nasdaq lost 6.8%.
The crash also affected Edenor, which closed with a decline of almost 20%, followed by Banco Macro ADRs with 18.6%; Galicia Group, 18.3%; Supervielle Bank, 17.9%; Pampa Energía, 17.2%.
BBVA, 16.6%, continued in the line of decreases; Transportadora Gas del Sur, 16.4%; Central Puerto, 14.8%; Loma Negra, 14.3% and Alto Palermo 11.3%.
On the other hand, Telecom Argentina maintained the same tendency of the Buenos Aires Stock Exchange since it was the company with the lowest loss in its roles in Wall Streer when closing with 4.7%.
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