What Happened?
A number of stocks fell in the afternoon session after the major indices pulled back (Nasdaq -1.3%, S&P 500 -1.1%) as Israel carried out significant strikes on Iranian nuclear and military sites, dramatically escalating fears of a broader conflict in the Middle East. This development has sent crude oil prices surging, as investors fear potential disruptions to global oil supply and a wider regional conflict.
The conflict intensified market anxiety, compounding existing volatility, especially in risk assets like stocks, and prompting a pronounced shift toward safe-haven assets.
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:
- Media company fuboTV (NYSE: FUBO) fell 6.5%. Is now the time to buy fuboTV? Access our full analysis report here, it’s free.
- Content Delivery company Fastly (NYSE: FSLY) fell 8.8%. Is now the time to buy Fastly? Access our full analysis report here, it’s free.
- Travel and Vacation Providers company Norwegian Cruise Line (NYSE: NCLH) fell 5.2%. Is now the time to buy Norwegian Cruise Line? Access our full analysis report here, it’s free.
- Footwear Retailer company Designer Brands (NYSE: DBI) fell 7.3%. Is now the time to buy Designer Brands? Access our full analysis report here, it’s free.
- Boat & Marine Retailer company OneWater (NASDAQ: ONEW) fell 13.7%. Is now the time to buy OneWater? Access our full analysis report here, it’s free.
Zooming In On OneWater (ONEW)
OneWater’s shares are extremely volatile and have had 49 moves greater than 5% over the last year. But moves this big are rare even for OneWater and indicate this news significantly impacted the market’s perception of the business.
The previous big move we wrote about was 17 days ago when the stock gained 7.2% on the news that the major indices rebounded (Nasdaq +2.0%, S&P 500 +2.0%) 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.
OneWater is down 20.3% since the beginning of the year, and at $13.69 per share, it is trading 55.1% below its 52-week high of $30.48 from July 2024. Investors who bought $1,000 worth of OneWater’s shares 5 years ago would now be looking at an investment worth $636.45.
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