NEW YORK – Shares of Blackstone Inc. (BX) are indicating a strong start to the trading day, jumping over 1% in pre-market activity. The asset management giant saw its stock rise to $180.05, a gain of $1.95, signaling renewed investor confidence after a session marked by significant fluctuation.
The positive pre-market momentum comes on the heels of a day where Blackstone’s stock ultimately closed nearly flat. While the previous session ended at $178.10 for a marginal loss of just 0.0056%, the closing price belied a day of turbulent trading.
After opening at $179.00, Blackstone shares quickly surged to an intraday high of $181.32. However, the early gains faded as the day progressed, with the stock eventually hitting a low of $177.34 before recovering slightly to settle near its previous close of $178.11. This price action suggests a tug-of-war between buyers and sellers that left the stock treading water by day’s end.
A look at the company’s fundamentals provides broader context for investors. Blackstone currently trades at a Price-to-Earnings (P/E) ratio of 48.07 and offers a dividend yield of 2.39%. The stock has performed well over the last year, trading within a 52-week range of $115.66 to $200.96.
With the significant uptick in pre-market trading, investors and analysts will be watching closely to see if Blackstone can carry this positive momentum past the opening bell and break away from the volatility that characterized the prior session.
