Stocks for companies of Israeli origin that show up on the Dow or the Nasdaq cover a wide range of fields and produce an equally wide variety of material. From solar panels to websites, Israeli stocks are a major part of our everyday life. However, Israeli stocks took a serious hit today as the newfound war with Hamas has left investors scrambling to get out…possibly while they can.
The extent of the damage varies from stock to stock. Web design stock Wix (NASDAQ:WIX), for example, lost around 2.2%, while ICL (NASDAQ:ICL) only fell fractionally. Losses spiraled downward from there, with Mobileye (NASDAQ:MBLY) and Solaredge (NASDAQ:SEDG) both down over 4%, and Teva Pharmaceuticals (NASDAQ:TEVA) down over 5.5% in Monday afternoon’s trading.
But it’s not just Israeli stocks that are seeing downward pressure. Rising oil prices–already somewhat on the rise thanks to moves from Russia and Saudi Arabia–are looking to continue their upward march as the entire Middle East looks increasingly unstable. Though demand destruction was serving as a mitigating factor on oil prices previously, it’s possible that supply troubles might start outpacing even what demand destruction could do.
How Will the Israeli War Affect the Stock Market?
Certainly, Israeli stocks represent all sorts of markets and all sorts of analyst perspectives. For instance, Teva Pharmaceuticals has the lowest upside potential on the list at 19.62%, and it’s also rated a Hold. Meanwhile, SolarEdge Technologies, a Moderate Buy, offers the best of this list as its $272.50 average price target means a blistering 128.99% upside potential.
