AGEM Index Climbs Again in December to Round Out 2020
January 6, 2020
The Association of Gaming Equipment Manufacturers (AGEM) Index rose by a further 9.5 per cent in December 2020, building on the huge gains made during November.
After dropping 6.8 per cent drop in October, the first fall in six months, the Index soared by 136.41 points and 27.5 per cent during in November. In the final month of 2020, it climbed again by 60.18 points in December to 691.9 points.
Overall, the majority of AGEM Index companies reported gains in stock price over the month, with nine trending positively and four moving negatively.
The AGEM Index's growth was due in large part to an increase in the stock price of International Game Technology PLC (IGT). The company's stock grew 34.6 percent and contributed 20.13 points to the AGEM Index's December gain. Additionally, the stock price for Crane Co. (CR) increased 11.7 percent, which led to an index contribution of 8.86 points.
The major stock indices also performed well as the NASDAQ and the S&P 500 climbed by 3.5 percent and 1.2 percent, respectively, while the Dow Jones Industrial Average grew by 0.5 percent.
The AGEM Index
The Association of Gaming Equipment Manufacturers (AGEM) produces the monthly AGEM Index that comprises 13 global gaming suppliers throughout the world. A total of nine suppliers are based in the United States and are listed on the NYSE, Nasdaq or OTC market, while two trade on the Australian exchange, one on the Tokyo exchange, and another trades on the Taiwan OTC exchange. The index is computed based on the month-end stock price (adjusted for dividends and splits) of each company and weighted based on approximation of market capitalization. Market capitalizations for manufacturers trading on foreign exchanges have beenconverted to US dollar-equivalents as of month-end for comparability purposes. The AGEM Index is based on a 100-point value as of January 2005.