As we head into the last month of the year, it is time to look back on November. American and European equities saw decreases amid uncertainty around the Omicron variant of the coronavirus. The S&P 500 and EURO STOXX 50 ended the month down by 0.83% and 4.41%, respectively.
In this article, we discuss the company that made an appearance on the map for the first time and share November’s biggest winner and loser.
Newcomer on the map
Vestas Wind Systems, known as Vestas, was the most traded stock by our Danish clients and made its debut on our map. The company is based in Denmark and is involved in the development, manufacturing, selling and servicing of wind turbines.
Vesta’s stock prices took a couple of hits in November. At the beginning of the month, it cut its 2021 outlook for a second time this year, citing higher costs and supply constraints. After the announcements, share prices dropped as much as 14%. Then, on November 20th, Vestas announced that it was hit by a cyber-attack, resulting in data being compromised. As a result, the company had to shut down IT systems across multiple business units and locations. Stock prices ended the month in the red by 20.95%.
The companies that saw the biggest price movements during November were Valneva and Evolution AB.
On the positive end was Valneva. It is a French biotechnology company that focuses on the development and commercialisation of prophylactic vaccines. In November, Valneva announced a purchase agreement with the European Commission to supply up to 60 million doses of its Covid-19 vaccine candidate VLA2001 over two years. The deal was well received by investors, as prices ended the month up by 45.56%.
Swedish online gambling company Evolution was on the losing end. Stock prices plunged by 31.56% in November as Evolution was accused of doing in business countries that banned under US sanctions. Evolution reached out to regulators in New Jersey, where it is licensed, and launched an internal review, which is ongoing at the time of writing.
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The information in this article is not written for advisory purposes, nor does it intend to recommend any investments. Please be aware that facts may have changed since the article was originally written. Investing involves risks. You can lose (a part of) your deposit. We advise you to only invest in financial products that match your knowledge and experience.
Sources: Bloomberg, Reuters, Vestas Wind Systems