The Association of Gaming Equipment Manufacturers reported that its members, the suppliers to the gaming industry, logged big gains in stock prices in December.
According to the association, the AGEM Index, which tracks member stock, improved by 60.18 points in December to 691.9 points, a 9.5 percent increase over November 2020, which saw a substantial 27.5 percent gain over October. Overall, the majority of AGEM Index companies reported gains in stock price in December, with nine moving positively and four negatively.
The AGEM Index’s growth was due in large part to an increase in the stock price of International Game Technology. The company’s stock added 34.6 percent and contributed 20.13 points to the AGEM Index’s December gain. Additionally, the stock price for Crane Co. increased 11.7 percent, which led to an index contribution of 8.86 points.
The rise in the Index was significantly higher than the advances of the major stock indices in December. The NASDAQ and S&P 500 climbed by 3.5 percent and 1.2 percent, respectively, while the Dow Jones Industrial Average grew by 0.5 percent.