ONEX Corporation ( (TSE:ONEX) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Onex Corporation’s stock is on the rise following its strategic acquisition of Convex Group for $7 billion, in partnership with AIG. This move, which gives Onex a 63% stake in Convex and a $2 billion investment from AIG, is expected to bolster its position in the insurance sector and improve its financial performance. Analysts have responded positively, upgrading Onex’s stock due to its strong profitability and revenue growth, despite some concerns over fee-related earnings.
More about ONEX Corporation
YTD Price Performance: 5.78%
Average Trading Volume: 73,912
Technical Sentiment Signal: Buy
Current Market Cap: C$8.12B
For further insights into ONEX stock on TipRanks’ Stock Analysis page.
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