The Largest Brokerage Stocks Rebound This Week After A Terrible Start To The Year
Just like the rest of the economy, the biggest brokerages have taken a huge hit to start the year, losing billions in market value combined since Jan. 4. While shares still trade below the 2015 peak, the stocks are showing signs of recovery, with CBRE, Colliers and JLL all picking up steam this week.
CBRE Climbs 5.57% During This Week
CBRE Group’s stock (CBG) closed at $26.20 a share last Friday (after hitting a $23.32 low in February), and has been climbing slowly, yet steadily, to today’s price of $27.66. This growth helps recoup some of the 24% loss the world’s largest brokerage experienced this year—something that should put a smile on CEO Bob Sulentic's face (he's pictured, smiling).
JLL Earns $350M In Market Value
We see the same trend with JLL (CEO Colin Dyer, pictured), fighting its way up from last month’s low of $98.58 to $113.99, as of today—good for a solid 15% jump for the week. (And a $350M market cap gain.)
After dropping 33% earlier this year, the recent resurgence should be a welcome development for the brokerage (JLL). (Sure, it's not the wild $180/share peak from last year, but not too shabby, either.)
Colliers' 5.4% Rebound
And Colliers (CIGI) is showing some bounce, as well. The stock rebounded from last week's $34.47/share close to $36.42 as of today, good for a 5.4% spike. After tumbling 19.9% in 2016, things could be looking up for CEO Jay Hennick. Or at least better.