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Friday, November 8, 2024

Fort Lauderdale-based Leisure Goods company Singing Machine Company Inc. (SMDM:QXR) sees value fall 27.7% in week ending April 30

Stock market 9 edited

Value in Leisure Goods stocks fell 6.1 percent in the week ending April 30 from the previous week.

The strongest performing Leisure Goods company in Florida was Simplicity Esports and Gaming Co. (WINR:QBB), sitting 429.6 percent higher to sell at $2.2.

Motorsport Games Inc. (MSGM:NAQ) fared the worst among Florida companies, suffering a 77.6 percent drop to $0.93.

Among Fort Lauderdale companies, Singing Machine Company Inc. (SMDM:QXR) saw the biggest fall in value of 27.7 percent in the week ending April 30.

The Household Goods and Home Construction industry was the week’s best-performing industry on the market. The market is divided into 42 different industries.

Telecommunications Service Providers 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.

Rank of stock market industries in week ending April 30

IndustryPercentage ChangeHighest Positive ChangeLargest Negative Change
Household Goods and Home Construction3.9%3,906.5%-86.1%
Telecommunications Equipment1.8%249.9%-70.6%
Industrial Materials1.8%477.4%-81.3%
Food Producers1.8%204.5%-100%
Precious Metals and Mining1.7%70.2%-68.2%
Waste and Disposal Services1.1%345%-82.5%
Media0.2%1,743.2%-85.1%
General Industrials-0.1%250.4%-60.8%
Industrial Transportation-0.6%220.4%-85.3%
Alternative Energy-1.1%1,058.4%-78%
Finance and Credit Services-1.6%797.4%-80.3%
Industrial Support Services-1.6%15,458.4%-95%
Mortgage Real Estate Investment Trusts-1.8%8,629.4%-51.5%
Tobacco-1.8%342.6%-99.4%
Technology Hardware and Equipment-1.9%567.8%-91.1%
Chemicals-2%570%-92.2%
Banks-2%54,613.1%-98.4%
Industrial Metals and Mining-2%1,191%-88.5%
Closed End Investments-2.1%4,391.5%-98.8%
Retailers-2.4%1,543.6%-93.8%
Travel and Leisure-2.5%1,607.5%-91.8%
Software and Computer Services-2.6%20,072.7%-96.7%
Automobiles and Parts-2.6%3,315%-81.3%
Personal Goods-2.8%15,643.7%-59.7%
Electronic and Electrical Equipment-2.8%845%-85%
Investment Banking and Brokerage Services-3.2%77,708.2%-80.5%
Non-life Insurance-3.3%532.2%-95.9%
Consumer Services-3.5%510.8%-93.1%
Industrial Engineering-4.1%21,548%-76.7%
Real Estate Investment and Services-4.2%463.9%-91.5%
Health Care Providers-4.2%665.8%-99%
Electricity-4.3%917.4%-75%
Aerospace and Defense-4.6%733%-70.5%
Gas, Water and Multi-utilities-5.1%595.2%-62.3%
Personal Care, Drug and Grocery Stores-5.5%1,073%-91%
Medical Equipment and Services-5.7%339%-89.1%
Pharmaceuticals and Biotechnology-5.8%1,150,437.5%-99.7%
Life Insurance-5.8%240.2%-92.3%
Leisure Goods-6.1%492.7%-99.7%
Real Estate Investment Trusts-6.1%739.8%-86.4%
Construction and Materials-7.9%871.4%-86.5%
Telecommunications Service Providers-8.6%440.2%-96.5%

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