What's Going On With Blackstone Stock Today?
Portfolio Pulse from Lekha Gupta
Blackstone Inc. (NYSE:BX) announced the sale of Turtle Bay Resort for $725 million, expected to close in Q3 2024. The sale, along with another land transaction, is projected to generate $768 million in proceeds. Blackstone stock has gained over 35% in the past year but is down 3.54% today. Investors can gain exposure through ETFs like First Trust Growth Strength ETF (NASDAQ:FTGS) and Amplify AI Powered Equity ETF (NYSE:AIEQ).
May 29, 2024 | 3:21 pm
News sentiment analysis
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POSITIVE IMPACT
Amplify AI Powered Equity ETF (NYSE:AIEQ) includes exposure to Blackstone Inc. (NYSE:BX), which is selling Turtle Bay Resort for $725 million. The ETF might benefit from the positive sentiment around Blackstone.
AIEQ holds Blackstone shares, and the positive news about the Turtle Bay Resort sale could positively influence the ETF's performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Blackstone Inc. (NYSE:BX) is selling Turtle Bay Resort for $725 million, expected to close in Q3 2024. The sale, along with another land transaction, is projected to generate $768 million in proceeds. Despite a 35% gain in the past year, BX shares are down 3.54% today.
The sale of Turtle Bay Resort is a significant transaction for Blackstone, expected to generate substantial proceeds. This positive development is likely to boost investor confidence, although the stock is down today, possibly due to profit-taking or broader market conditions.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
First Trust Growth Strength ETF (NASDAQ:FTGS) offers exposure to Blackstone Inc. (NYSE:BX), which is selling Turtle Bay Resort for $725 million. The ETF may see some impact from the positive news surrounding Blackstone.
FTGS holds Blackstone shares, and the positive news about the Turtle Bay Resort sale could have a favorable impact on the ETF's performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50