Anheuser-Busch InBev S.A. ADR Gains Despite Market Decline
Anheuser-Busch InBev S.A. ADR managed to eke out a small gain of 0.07% on Tuesday, closing at $60.14. This was in stark contrast to the overall performance of the stock market, with the S&P 500 Index falling 1.02% and the Dow Jones Industrial Average falling 1.04%. However, Anheuser-Busch InBev still closed $6.95 below its 52-week high, which it reached on March 31st.
Despite the challenging market conditions, Anheuser-Busch InBev outperformed some of its competitors on Tuesday. Kirin Holdings Co. Ltd. ADR remained unchanged, while San Miguel Corp. fell 5.40% to $1.84 and Compania Cervecerias Unidas S.A. ADR fell 1.32% to $11.22.
In terms of trading volume, the ADR saw 1.4 million shares traded, which is 308,846 shares below its 50-day average volume of 1.7 million.
This gain for Anheuser-Busch InBev marks the end of an eight-day losing streak for the company, providing a glimmer of hope for investors.
Analyst comment
Positive news. Short: Despite a declining stock market, Anheuser-Busch InBev managed a small gain of 0.07%. It outperformed competitors Kirin, San Miguel, and Compania Cervecerias Unidas. The gain ends an eight-day losing streak, giving hope to investors. Market may stabilize or see some recovery.
