AGEM Index rebounds in July
The AGEM Index rose by 51.54 points in July 2022 to 862.93, rebounding 6.4 per cent from a significant drop in June.
However, compared to one year ago, the index was down 62.39 points, or 6.7 per cent.
During the latest month, 10 of the 12 index companies reported stock-price increases, which resulted in 10 positive contributions to the index and two negative contributions.
The largest positive contributor was Crane Co., which reported a 13.76-point gain to the index as a result of a 13 per cent increase in its stock price. Aristocrat contributed a further 11.60 points due to a 2.7 per cent increase in its stock price.
The largest negative contribution was from PlayAGS Inc., whose 8.1 per cent decline in stock price equated to a 0.27-point loss for the index.
The rebound comes in the context of all three major U.S. stock indices seeing month-over-month increases in July 2022 after slipping across the board in the prior period. The NASDAQ rose by 12.3 per cent from June, while the S&P 500 rose by 9.1 per cent and the Dow Jones Industrial Average grew 6.7 per cent over the month.
The Association of Gaming Equipment Manufacturers (AGEM) produces the monthly AGEM Index that comprises 12 global gaming suppliers throughout the world. The index is computed based on the month-end stock price (adjusted for dividends and splits) of each company and weighted based on an approximation of market capitalization.
AGEM is an international trade association representing manufacturers of electronic gaming devices, systems, lotteries, and components for the gaming industry.