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Friday, November 15, 2024

Value of Campbell-based Telecommunications Service Providers company 8x8 Inc. (EGHT:NYQ) fell 36.5% in Q3

Stock market 21 edited

Value in Telecommunications Service Providers stocks fell 26.6 percent in the third quarter of 2022 from the previous quarter.

The strongest performing Telecommunications Service Providers company in California was Ooma Inc. (OOMA:NYQ), sitting 85.6 percent higher to sell at $12.32.

8x8 Inc. (EGHT:NYQ) fared the worst among California companies, suffering a 36.5 percent drop to $3.48.

The Alternative Energy industry was the quarter’s best-performing industry on the market. The market is divided into 45 different industries.

Banks 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.

Individual companies can have several different types of shares across many stock markets. It is possible for different types of shares to see different results on the market.

Rank of stock market industries in Q3

IndustryPercentage ChangeHighest Positive ChangeLargest Negative Change
Alternative Energy24.9%4,593,014.6%-99.9%
Telecommunications Equipment18.8%229%-99.9%
Waste and Disposal Services18%32,633,087.3%-97%
Travel and Leisure7.8%19,461,438.5%-99.9%
Beverages6.1%3,414,310.2%-99.6%
Oil, Gas and Coal5.9%24,203,565.5%-99.9%
Investment Banking and Brokerage Services5%3,656.4%-99.9%
Life Insurance4.8%23.7%-95.7%
Consumer Services4.2%2,495,268.6%-99.9%
Construction and Materials3.9%2,953.8%-99.9%
Electronic and Electrical Equipment2.6%1,369.3%-99.9%
Pharmaceuticals and Biotechnology2.3%33,525,999.5%-99.9%
Household Goods and Home Construction1.1%104.6%-97.9%
Open End and Miscellaneous Investment Vehicles-0.1%22,850,076.1%-99.9%
Retailers-0.2%50,234,687.4%-99.9%
General Industrials-0.3%6,297.2%-99.9%
Media-0.4%551.4%-99.7%
Aerospace and Defense-0.4%11,038,265.5%-99.9%
Automobiles and Parts-0.6%173.3%-99.4%
Industrial Materials-1%3,362,068.6%-99.4%
Industrial Engineering-1.8%9,151,441.3%-99.6%
Technology Hardware and Equipment-1.9%798.6%-99.2%
Industrial Support Services-2.4%325,209,371.8%-99.9%
Leisure Goods-3.5%245,164.7%-99.7%
Industrial Transportation-4%62,389,348.9%-99.9%
Personal Care, Drug and Grocery Stores-4%2,330,275.8%-99.9%
Finance and Credit Services-4%60,564,510.2%-99.9%
Gas, Water and Multi-utilities-4.1%51,915,465.9%-99.8%
Non-life Insurance-4.1%429.2%-99.1%
Industrial Metals and Mining-4.2%9,497,387.4%-99.8%
Personal Goods-4.5%161,824,667.9%-99.8%
Software and Computer Services-4.5%1,914,432.7%-99.9%
Electricity-4.7%2,698.9%-99.9%
Medical Equipment and Services-5.1%80,812.3%-99.9%
Chemicals-6.5%5,869.2%-99.9%
Food Producers-7.3%2,199,582.2%-99.9%
Closed End Investments-7.7%3,714.5%-99.9%
Mortgage Real Estate Investment Trusts-7.9%27,436,490.4%-99.8%
Real Estate Investment Trusts-9.3%265,980.1%-99.9%
Real Estate Investment and Services-10%476,275.9%-93.3%
Health Care Providers-10.8%3,984,082.9%-99.9%
Tobacco-15%1,091,355.7%-92%
Precious Metals and Mining-24%695.7%-98.3%
Telecommunications Service Providers-26.6%69,056,057.6%-99.8%
Banks-48.6%3,497,069.6%-99.9%

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