What Happened?
A number of stocks fell in the morning session after oil prices surged amid escalating conflict in the Middle East.
Brent crude prices soared past $110 a barrel for the first time since 2022 as the conflict threatens oil production and key shipping routes, such as the Strait of Hormuz. The disruption reportedly halted over 20 million barrels of oil per day. For the industrial sector, which includes manufacturing, transportation, and construction companies, higher oil prices translate directly into increased operational costs. Elevated fuel and energy expenses can shrink profit margins and signal a potential slowdown in economic activity, weighing heavily on investor sentiment for cyclical stocks.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.
Among others, the following stocks were impacted:
- Electrical Systems company Methode Electronics (NYSE: MEI) fell 7.4%. Is now the time to buy Methode Electronics? Access our full analysis report here, it’s free.
- Electronic Components company Allient (NASDAQ: ALNT) fell 7.9%. Is now the time to buy Allient? Access our full analysis report here, it’s free.
- Law Enforcement Suppliers company Byrna (NASDAQ: BYRN) fell 8.7%. Is now the time to buy Byrna? Access our full analysis report here, it’s free.
- Renewable Energy company ChargePoint (NYSE: CHPT) fell 7.6%. Is now the time to buy ChargePoint? Access our full analysis report here, it’s free.
- Ground Transportation company Heartland Express (NASDAQ: HTLD) fell 5.1%. Is now the time to buy Heartland Express? Access our full analysis report here, it’s free.
Zooming In On Byrna (BYRN)
Byrna’s shares are extremely volatile and have had 53 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 10 days ago when the stock dropped 5.5% on the news that the company's stock fell amid a broader market downturn triggered by hotter-than-expected inflation data.
The U.S. Bureau of Labor Statistics reported that the producer price index, a measure of wholesale inflation, rose 0.5% in January, surpassing the 0.3% that was forecast. The core figure, which strips out food and energy costs, also accelerated. This data sparked concerns among investors about persistent inflation, leading to a widespread sell-off in equities. Major indices felt the pressure, with the S&P 500 and the tech-heavy Nasdaq Composite both finishing the day with losses.
Byrna is down 33.9% since the beginning of the year, and at $11.06 per share, it is trading 67.1% below its 52-week high of $33.56 from July 2025. Investors who bought $1,000 worth of Byrna’s shares 5 years ago would now be looking at an investment worth $831.43.
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