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In a challenging market environment, Apollo Global Management (NYSE:APO) Prf (APOS) stock has reached its 52-week low, dipping to $25.8. This latest price level reflects a notable decline in investor confidence as the asset management firm, with a market capitalization of $80.7 billion and a P/E ratio of 18.8, grapples with broader economic headwinds. The company’s beta of 1.65 indicates higher volatility compared to the broader market. Over the past year, Apollo’s stock has seen a decrease of 1.48%, underscoring the pressures faced by the financial sector amid fluctuating interest rates and investor sentiment. The 52-week low serves as a critical indicator for shareholders and potential investors, marking a significant point of interest in the company’s market performance trajectory. Despite these challenges, Apollo maintains a strong dividend track record, having sustained payments for 15 consecutive years. InvestingPro analysis reveals 8 additional key insights about Apollo’s financial health and market position.
In other recent news, EmployBridge Holding Co. experienced a credit rating downgrade by S&P Global Ratings. The Atlanta-based staffing provider’s rating was lowered to ’SD’ (selective default) from ’CC’ following the completion of a distressed exchange transaction. This transaction involved issuing a new money term loan and second-out exchange term loan, replacing the existing draw term loan and first-lien term loan B. S&P Global Ratings considered this a distressed exchange since investors received less than initially promised, effectively amounting to a default. Additionally, the issue-level ratings for EmployBridge were reduced to ’D’ from ’CC’. The agency plans to reassess the company’s credit rating soon, focusing on its capital structure, liquidity position, and future credit metrics. This reassessment will aim to provide a forward-looking view of EmployBridge’s creditworthiness.
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