Now that President Javier Milei has won the midterm elections, Argentinian stocks are skyrocketing in pre-market trading. Argentinian stocks trading as ADRs on the U.S. stock exchanges are rising precipitously on hopes of a drastically improved economic situation in Argentina.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Milei has been promoting a deep overhaul of the Argentinian economy, which has been in the doldrums for decades. His midterm sweep gives hope that he will be able to continue to drive his reforms and win the presidential reelection in two years’ time.
Furthermore, President Trump promised to give Argentina $40B in a financial bailout, but on condition that Milei would win the midterms. Now, broad hope is encompassing the nation and investors with the belief that the Argentinian economy and its stocks will rise in value.
Argentinian Stocks to Watch
Which Argentinian stocks are most likely to rise under President Milei’s economic reforms? Here is a list of major Argentinian stocks to watch:
Pampa Energia SA (PAM) – An integrated energy company that’s also involved in gas and oil exploration
YPF Sociedad Anonima (YPF) – An energy company that engages in oil and gas upstream and downstream activities in Argentina
Grupo Financiero Galicia SA (GGAL) – A financial services holding company that provides various financial products and services to individuals and companies in Argentina
Banco Macro SA (BMA) – A provider of various banking products and services to retail and corporate customers in Argentina
Transportadora De Gas Sa Ord B (TGS) – A transporter of natural gas, production, and commercialization of natural gas liquids in Argentina
Follow all Pre-Market Gainers on Tipranks