The growth streak in the Association of Gaming Equipment Manufacturers stock index ended in November, with AGEM Index stocks falling by 117.2 points to settle at 960.19, a 10.9 percent decline.
Despite the reduction, year over year, the index is up 328.47 points for an annual growth rate of 52 percent. The index is at its highest levels in history, tripling in value since the onset of the pandemic in March 2020.
In November, all AGEM Index companies reported decreases in stock price. The across-the-board decline is attributed to rising concerns over the omicron variant of Covid-19, which trigged stock sell-offs, poor quarterly earnings, an instability in U.S. dollar exchange rates, and rising inflation.
The largest decline to the index was sustained by Australia’s Aristocrat Leisure Limited. The 5.5 percent drop in its stock price negatively impacted the index by 48 points. Scientific Games saw a 20.1 percent decline in stock price, which resulted in a 27.11-point index decline. Konami reported a 10.1 percent decline in stock price, subtracting 13.91 points from the index.
By comparison, two of the three major U.S. stock indices declined in November. The Dow Jones Industrial Average and the S&P 500 both dropped, by 3.8 percent and 0.8 percent, respectively. The NASDAQ experienced a 0.1 percent increase.
