1 Big Reason Brookfield Asset Management Stock Shed 22.3% in March but Is Rising in April
Brookfield Asset Management (NYSE: BAM) shares tumbled 22.3% in the month of March, according to data provided by S&P Global Market Intelligence.
Interestingly enough, shares of the asset management company had plummeted a whopping 40.1% until March 23, when they bottomed and rallied a surprising 29.8% in the last week of March.
Anyone can guess why Brookfield stock cratered: It's the same coronavirus narrative. The unnerving uncertainty, widespread lockdowns, and their bringing trade and manufacturing activity to a halt have spooked investors. Brookfield, after all, has nearly $540 billion in assets under management in more than 30 countries across real estate, infrastructure, and renewable energy, among others, which it operates through its several publicly listed subsidiaries. An employee at Brookfield's headquarters also reportedly tested positive for coronavirus in early March.
Source Fool.com
