Why Endeavour Silver Stock Tanked 17.5% in September
Shares of Endeavour Silver (NYSE: EXK) fell around 17.5% in September, according to data from S&P Global Market Intelligence. That's a reversal of recent trends, which saw the stock up by roughly 90% for the year at one point in July. But that doesn't even give full justice to the stock's performance this year, noting that it was off by about 50% during the worst of the early 2020 bear market. Indeed, from its low point to its high point, the stock rallied over 200%.
The price of the gold and silver miner is largely driven by the prices of the commodities it produces. That's par for the course for precious-metals miners and shouldn't be a surprise to anyone. Thus, the volatile swings in Endeavour Silver's price so far in 2020 have tracked along with the ups and downs in gold and silver. That said, as a miner, the company's top and bottom lines tend to be leveraged to commodity price moves. Thus, the huge moves in the stock.
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Source Fool.com
