New Wine, Old Flasks: Recent Market Developments in Some Established Israeli Stocks
Author: Iliya Talman (6 Articles)
Iliya is currently a grad student at the Sofaer International program in Recanati School of Business at Tel Aviv University. Prior to his studies, Iliya was involved in a number of entrepreneurial ventures, while staying an avid follower of the capital markets in Israel and across the globe. He plans to enter a fintech startup following his program at Recanati.
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The Tel Aviv stock exchange is launching new indexes during the first quarter of this current year. The incoming indexes will be biomed, energy and communication. Specifically, the biomed sector becomes a promising and crucial sector for the Israeli market; represented by 38 companies in the TASE. Ester Levanon, TASE CEO, stated on January 11th, 2010: “We will probably not be a global financial center, but we can be a center for all kinds of hi-tech companies. The advantage of the Tel Aviv Stock Exchange is that we are located in a hi-tech hub. Hi-tech is our bread and butter.”
After the energy sector awareness increased during the last few months, and market’s expectation for a new source of natural gas, comes Cavahot Yahash (Hebrew name for TASE listing). It is a new old story; recent finding with “Magad 5”, the drilling platform name has brought Gvahot back to the forefront of trading arena.
Surprisingly, the findings showed 60% gas and oil features at that depth level. Thus, the company has announced that it has finished the drilling stage and will be moving forward to the evaluation stage. The stock is fairly rising, currently with 7.3 NIS per share and throughout the recent week has made 7.35% from the beginning of the week. The stock’s history has shown fluctuations for a long time. Most recently, rising on January 9 with 225% due to the potentially lucrative natural gas found at the “Magad 5” site. In a country not generally known for its energy sector, it seems we are on the verge of the rise of a hot new Israeli energy company. Does Israeli energy company Isramco (up 10.56% from the beginning of the month) have a new competitor?
A strong performer in Israeli Fintech sector was the payment devices and card solutions applications company, OTI. The company, established in 1990, provides ePassport (Electronic/Smart Passport) projects, national ID/eID Programs, voter ID and Election Management systems, driving & vehicle Licenses solutions and border Control Systems. Through the last few days, the share continued to jump, 67.85% since the beginning of the year. OTIV’s (Nasdaq’s listing for the company) almost tripled its value since last November.
The last and most promising update, which some may claim is a known fact is Brainsway, a non-invasive treatment for clinical depression. The share rose through 2009, like everyone else we may say, the increase has brought the share value up high by additional 219%. 2010 has brought an additional boost for the share’s price; it went up by additional 22.09% in eleven business days, interesting.
These companies represent some of top prospects from the Israeli Energy, FinTech and MedTech sectors. These are three hot Israeli growth sectors that hold much promise for 2010.
Line BreakAuthor: Iliya Talman (6 Articles)
Iliya is currently a grad student at the Sofaer International program in Recanati School of Business at Tel Aviv University. Prior to his studies, Iliya was involved in a number of entrepreneurial ventures, while staying an avid follower of the capital markets in Israel and across the globe. He plans to enter a fintech startup following his program at Recanati.
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