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Suffolk Reporter

Sunday, December 22, 2024

Melville-based Medical Equipment and Services company Fonar Corp. (FONR:NAQ) sees value rise 190.6% in week ending Sept. 10

Stock market 8 edited

Value in Medical Equipment and Services stocks rose 9.2 percent in the week ending Sept. 10 from the previous week.

The strongest performing Medical Equipment and Services company in New York was Lucid Diagnostics Inc. (LUCD:NMQ), sitting 416.2 percent higher to sell at $2.27.

Chembio Diagnostics Inc. (CEMI:NAQ) fared the worst among New York companies, suffering an 89 percent drop to $0.5321.

Among Melville companies, Fonar Corp. (FONR:NAQ) saw the highest rise in value of 190.6 percent in the week ending Sept. 10.

The Life Insurance industry was the week’s best-performing industry on the market. The market is divided into 45 different industries.

Finance and Credit Services 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 week ending Sept. 10

IndustryPercentage ChangeHighest Positive ChangeLargest Negative Change
Life Insurance14.5%710.1%-41.3%
Construction and Materials10.2%1,154.4%-96.9%
Tobacco9.6%256.5%-32.5%
Medical Equipment and Services9.2%13,893.5%-94.8%
Alternative Energy8.4%366.8%-43.5%
Industrial Metals and Mining8%768.8%-95.5%
Software and Computer Services7.9%3,833.1%-99.1%
Industrial Engineering6.4%474%-99.9%
Retailers5.3%926%-76.9%
Chemicals5.1%575%-55.2%
Electronic and Electrical Equipment4.9%929.6%-92.1%
Personal Goods4.7%860.8%-82.7%
Industrial Support Services4.3%4,254.4%-79%
General Industrials4.2%316.9%-39.8%
Pharmaceuticals and Biotechnology3.9%7,352.6%-96.4%
Precious Metals and Mining3.9%100%-99.3%
Travel and Leisure3.9%2,069.1%-88.4%
Household Goods and Home Construction3.9%4,522.9%-94.3%
Real Estate Investment Trusts3.8%1,067.1%-97.2%
Waste and Disposal Services3.6%285%-94.4%
Leisure Goods3.5%421.4%-96.1%
Industrial Transportation3.4%5,503.6%-59.9%
Electricity3.1%81.2%-52.5%
Aerospace and Defense3.1%523.2%-69.1%
Telecommunications Equipment3.1%405.6%-56.8%
Personal Care, Drug and Grocery Stores2.9%323.4%-81%
Consumer Services2.9%29,661.9%-95.8%
Automobiles and Parts2.9%382.1%-69.3%
Media2.7%163,698.1%-76.1%
Mortgage Real Estate Investment Trusts2.5%312.5%-62.7%
Real Estate Investment and Services2.4%8,524.2%-98.1%
Gas, Water and Multi-utilities2.3%490.2%-52.4%
Industrial Materials2.3%181.4%-51.5%
Health Care Providers1.8%673.9%-70.6%
Technology Hardware and Equipment1.7%236.9%-52.8%
Non-life Insurance1.6%6,191.5%-79.6%
Investment Banking and Brokerage Services0.7%2,331.2%-99.4%
Closed End Investments0.5%2,633.8%-95.1%
Banks0.4%689,978.4%-99.9%
Oil, Gas and Coal0.3%45,749.6%-99%
Open End and Miscellaneous Investment Vehicles-0.1%1,277,363.8%-99.9%
Food Producers-1.1%2,168.4%-97.7%
Telecommunications Service Providers-2%3,069.5%-88.9%
Beverages-17.4%370.3%-78.2%
Finance and Credit Services-56.2%608.9%-46.5%

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