This week’s eagle demonstrates the principle of elasticity. While eagles aren’t particularly elastic, stock prices often are.
The top-performing stock for the week was ADDvantage Technologies Group, which posted a 7.8 percent gain to close Friday at $2.91.
AEY shares were dog-housed in beagle territory after slipping 8 percent last week and 11 percent the previous week. But, as stock prices sometimes do, a move in one direction begets a move in the opposite direction.
After a recent earnings report and the sale of a subsidiary, shares of this Broken Arrow-based seller and maintainer of cable TV equipment are precisely where they were on Jan. 10.
For long-term investors, there’s nothing to see here.
Last week’s trading, abbreviated by Monday’s Presidents Day market holiday, produced a pretty strong week for most Oklahoma-based energy stocks.
The big boys — Continental, Williams, Devon and Chesapeake — made their investors a little money. And even the worst among state-based stocks didn’t deliver a major beating.
Apco Oil & Gas International, which is based in Tulsa but operates in South America, shed 4.8 percent last week to close at $14.14.
Even after last week’s dip, the closely held and thinly traded stock remains nearer the high side than the low side of its 52-week range. Long-term holders likely still get misty-eyed recalling the $80 days of two years ago.
Eagle & Beagle is a weekly look at the state’s high-performing (eagle) and low-performing (beagle) stocks by Business Editor Don Mecoy.