HomeMarket NewsThe Bright Side and Dark Depths of Industrial Stocks This Week

The Bright Side and Dark Depths of Industrial Stocks This Week

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Let’s dive into the wild world of industrial stocks. The Industrial Select Sector (XLI) surged by +0.61% for the week ending January 12, while the SPDR S&P 500 Trust ETF (SPY) climbed by +1.87%.

The Top Gainers

The top five gainers in the industrial sector (stocks with a market cap of over $2B) all enjoyed a boost of more than +6% this week. Acuity Brands (NYSE:AYI) stole the spotlight with a tremendous +9.34% surge. The lighting products creator lit up the market with a remarkable +11.48% jump on Tuesday after exceeding estimates for first quarter non-GAAP EPS.

AeroVironment (AVAV), the reputable drone maker, soared by +7.19%, buoyed by announcing a successful multi-drop, live fire GPS-guided Shryke munitions. Vertiv (VRT) and BWX Technologies (BWXT) also shone bright, climbing by +6.93% and +6.53% respectively. Further adding to the roster of winners, Exponent (EXPO) registered a gain of +6.36%, marking a successful week for these industrial frontrunners.

The Biggest Losers

On the flip side, this week’s top five decliners among industrial stocks (market cap of over $2B) all suffered losses of more than -7% each. Plug Power (NASDAQ:PLUG) took a nosedive with a staggering -19.06% drop, as the hydrogen fuel cell solutions maker’s stock fell the most on Thursday (-7.92%) following a downgrade by Susquehanna.

Wheels Up Experience (UP) also felt the burn, witnessing a dramatic -16.02% descent. Following suit were Spirit AeroSystems (SPR) at -14.28%, Boeing (BA) at -12.57%, and Bloom Energy (BE) at -7.55%. These companies faced tumultuous times, each encountering substantial losses throughout the week.

It’s been a rollercoaster of wins and losses in the industrial sector, with Acuity Brands shining as the week’s brightest light and Plug Power experiencing a gut-wrenching plunge. Investors are left on the edge of their seats, wondering what next week will bring for these industrial giants.

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