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Friday, November 22, 2024

Bar Harbor-based Banks company Bar Harbor Bankshares (BHB:ASQ) sees value fall 36.5% in week ending June 4

Stock market 26 edited

Value in Banks stocks fell 0.8 percent in the week ending June 4 from the previous week.

The strongest performing Banks company in Maine was Northeast Bank (NBN:NMQ), sitting 12.2 percent higher to sell at $39.51.

Bar Harbor Bankshares (BHB:ASQ) fared the worst among Maine companies, suffering a 36.5 percent drop to $26.57.

The Finance and Credit Services industry was the week’s best-performing industry on the market. The market is divided into 44 different industries.

Beverages was the worst-performing industry.

Healthcare and technology stocks are viewed as the safest bets for long-term gains.

Besty Kuekcer with Benzinga.com said healthcare-related stocks, such as hospital conglomerates and insurance companies, have weathered numerous economic crises and still make a profit, suggesting that they are generally a stable investment.

While technology stocks can be more risky, given the boom-bust nature of new tech companies, Kuecker recommended a diverse portfolio of tech companies to strike it big when companies succeed or sell to other larger companies.

For short-term investments, Kuecker recommended “consumer discretionary” stocks, which are sensitive to economic changes but can rise greatly on the back of a strong economy.

Nothing in this article is to be assumed as financial advice.

Rank of stock market industries in week ending June 4

IndustryPercentage ChangeHighest Positive ChangeLargest Negative Change
Finance and Credit Services94.3%57.9%-98%
Alternative Energy7.5%103.8%-89.8%
Medical Equipment and Services5.8%4,727%-91.8%
Oil, Gas and Coal2.5%13,440.6%-99.3%
Personal Goods2.2%5,396%-84.7%
Electronic and Electrical Equipment2%492,344.9%-99.2%
Travel and Leisure1.5%1,646%-92.7%
Consumer Services1.3%960.4%-91%
Industrial Transportation1.1%165.6%-67.3%
Industrial Engineering0.8%3,444.6%-92.7%
Industrial Materials0.4%48.1%-68.4%
Aerospace and Defense0.3%766.5%-89.4%
General Industrials0.3%130.2%-76.9%
Waste and Disposal Services0.3%725%-60.4%
Automobiles and Parts0.2%20,959.3%-91.2%
Industrial Metals and Mining0.2%100%-99.7%
Telecommunications Service Providers-0.1%123.5%-99.5%
Pharmaceuticals and Biotechnology-0.2%19,638.8%-95.8%
Precious Metals and Mining-0.3%559.5%-67.9%
Industrial Support Services-0.3%1,299.6%-95%
Closed End Investments-0.4%741.2%-93%
Mortgage Real Estate Investment Trusts-0.5%1,335.5%-72.5%
Technology Hardware and Equipment-0.5%138.4%-88.9%
Retailers-0.6%416.7%-93.5%
Non-life Insurance-0.7%448%-89.3%
Gas, Water and Multi-utilities-0.7%142.9%-89.3%
Software and Computer Services-0.8%7,766.9%-98.6%
Banks-0.8%2,408.7%-98.5%
Electricity-0.9%138.8%-77.4%
Real Estate Investment Trusts-1.1%920.5%-86%
Chemicals-1.2%104.7%-97.5%
Tobacco-1.3%2,339%-35.7%
Media-2%5,075%-90.7%
Life Insurance-2.1%219.3%-94%
Food Producers-2.1%55,624,900%-98.8%
Investment Banking and Brokerage Services-2.3%125,672.4%-99.3%
Telecommunications Equipment-2.8%579.6%-99.6%
Personal Care, Drug and Grocery Stores-2.8%327.9%-67.9%
Household Goods and Home Construction-2.9%13,329.4%-83.1%
Health Care Providers-3%222.1%-97.4%
Real Estate Investment and Services-4.3%1,132.5%-92.9%
Construction and Materials-4.6%759.7%-80.6%
Leisure Goods-4.6%131.8%-93.2%
Beverages-19.7%1,721.9%-97.7%

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