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Why Equinor Stock Slumped on Monday

TheMotleyFool 
0 0 08.10.24
Why Equinor Stock Slumped on MondayPhoto, wide shot, wide-angle lens, Gas company, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Sebastião Salgado: https://img.theapi.app/temp/01083d82-021d-4573-8c40-0e836a0771d6.png
 

Oil and gas companies might be riding a long-tail boom these days, but you wouldn't know that from the latest action in (NYSE: EQNR). The Scandanavian energy company didn't do well on Monday, sinking by 3% in price on news of a fresh acquisition. The S 500 index also landed in negative territory, but not as deeply, as it fell a comparatively benign 1%.

Equinor's major news item that day was the deal it struck to buy a minority stake in Ørsted (OTC: DNNG.Y), the largest energy company in Denmark. Ørsted is known for being a top green energy company, not only in its home country but throughout Europe, and is particularly strong in wind energy, a segment in which Equinor is also active. Equinor has acquired just under 4.2 million shares of the company, giving it a nearly 10% ownership stake with a corresponding voting share.

The largest single shareholder of Ørsted is the Danish state.

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Source Fool.com

Equinor ASA ADR Stock

€35.30
0.280%
The Equinor ASA ADR stock is trending slightly upwards today, with an increase of €0.000 (0.280%) compared to yesterday's price.

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