What Happened?
A number of stocks jumped in the afternoon session after the major indices rebounded (Nasdaq +1.5%, S&P 500 +1.0%) as reports pointed to easing tensions between Israel and Iran. The Wall Street Journal said senior Iranian officials had signaled a willingness to restart stalled nuclear talks, on the condition that Washington refrain from joining Israel's ongoing strikes. This development triggered a significant decline in oil prices, easing inflation concerns.
Also, it is possible some investors were buying the dip following the sell-off at the end of the previous week.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.
Among others, the following stocks were impacted:
- Law Enforcement Suppliers company Byrna (NASDAQ: BYRN) jumped 6.7%. Is now the time to buy Byrna? Access our full analysis report here, it’s free.
- Electrical Systems company Methode Electronics (NYSE: MEI) jumped 6.6%. Is now the time to buy Methode Electronics? Access our full analysis report here, it’s free.
- Satellite Telecommunication Services company Globalstar (NASDAQ: GSAT) jumped 5.5%. Is now the time to buy Globalstar? Access our full analysis report here, it’s free.
- Data Analytics company Amplitude (NASDAQ: AMPL) jumped 5.2%. Is now the time to buy Amplitude? Access our full analysis report here, it’s free.
- Sit-Down Dining company Dine Brands (NYSE: DIN) jumped 5%. Is now the time to buy Dine Brands? Access our full analysis report here, it’s free.
Zooming In On Byrna (BYRN)
Byrna’s shares are extremely volatile and have had 74 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 20 days ago when the stock gained 5.9% on the news that the major indices rebounded (Nasdaq +2.0%, S&P 500 +1.5%) as President Trump postponed the planned 50% tariff on European Union imports, shifting the start date to July 9, 2025.
Companies with substantial business ties to Europe likely had some relief as the delay reduced near-term cost pressures and preserved cross-border demand.
Byrna is up 10.9% since the beginning of the year, and at $31.42 per share, it is trading close to its 52-week high of $34.19 from February 2025. Investors who bought $1,000 worth of Byrna’s shares 5 years ago would now be looking at an investment worth $2,123.
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