The AGEM Index reported its first decline since November 2020, as it fell 70.06 points to 925.32 points in July. From a year-over-year perspective, however, the AGEM Index remained up 504.46 points (+119.9 percent).
Last month, only three of the 13 AGEM Index companies reported increases in their stock prices. The main contributor to the index was Crane Co., whose 5.3 percent increase in stock price led to a 6.29-point gain for the AGEM index. Transact Technologies and Galaxy Gaming Inc. also marked stock-price increases of 21.3 percent and 23.3 percent, respectively. At the end of the period, Transact Technologies added 0.67 points to the overall index while Galaxy Gaming Inc. added 0.49 points.
The monthly decline in the index can be attributed to drops in stock price for most AGEM Index companies. The largest impacts to the index were driven by Scientific Games Corporation, which reported a 20.3 percent decrease in stock price that led to a 25.36-point index decline, and International Game Technologies, whose 21.7 percent decrease in stock price equated to a 17.60-point loss for the index.
Though most Index companies experienced declines month over month, 12 out of the 13 companies reported year-over-year gains on their stock values.
Bucking the trend of the Index, the major indices posted positive percentages. The S&P 500, the Dow Jones Industrial Average, and NASDAQ grew by 2.3 percent, 1.3 percent, and 1.2 percent, respectively.
