PNN Stock Index
PNN Stock IndexOnce again, hypothetical investors in the PNN Stock Index would have been ruing their investment choice over the last month. In line with a turbulent quarter in the stock market, the PNN Stock Index dipped into negative territory
PNN Stock Index
Once again, hypothetical investors in the PNN Stock Index would have been ruing their investment choice over the last month. In line with a turbulent quarter in the stock market, the PNN Stock Index dipped into negative territory this quarter, down to $907.95, a 9.2% decline for the year. In comparison, other market measures continued to show hefty gains for 1997, with the Dow Jones Industrial Average up 17.6%, the S&P 500 index gaining 25.2%, and the Russell 2000 ahead 20%.
Nearly all of the companies in our index posted steep declines in the last month of the quarter. Sunquest and Imnet Systems experienced the sharpest dip in share price, down 38.2% and 25.6%, respectively. Shared Medical Systems was by far the best performer, netting a 11.7% gain in share price during the last month. ISG Technologies also posted solid gains, up 7.7% in the final month.
The PNN Stock Index is a portfolio of 10 stocks representing companies in the medical image and information management industry. The index is based on the assumption that a hypothetical investor purchased $100 in each of the stocks in January 1997.
