What Happened?
A number of stocks fell in the afternoon session after geopolitical tensions in the Middle East sent crude oil prices soaring, stoking fears of resurgent inflation. The price for Brent crude, the international benchmark, leaped over 6% to $82.57 a barrel amid an escalating war with Iran, which has threatened to block the Strait of Hormuz. This critical waterway handles about 20% of global oil flow. A sustained increase in energy prices could translate to higher inflation, potentially impacting consumer spending and corporate earnings. This scenario also complicates the Federal Reserve's path forward, as persistent inflation could delay anticipated interest rate cuts that investors have been counting on to support the economy.
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:
- Maintenance and Repair Distributors company DXP (NASDAQ: DXPE) fell 2.7%. Is now the time to buy DXP? Access our full analysis report here, it’s free.
- Heavy Transportation Equipment company Wabash (NYSE: WNC) fell 2.6%. Is now the time to buy Wabash? Access our full analysis report here, it’s free.
- Home Construction Materials company Griffon (NYSE: GFF) fell 3%. Is now the time to buy Griffon? Access our full analysis report here, it’s free.
- Home Construction Materials company Gibraltar (NASDAQ: ROCK) fell 2.9%. Is now the time to buy Gibraltar? Access our full analysis report here, it’s free.
- Electronic Components company Novanta (NASDAQ: NOVT) fell 2.6%. Is now the time to buy Novanta? Access our full analysis report here, it’s free.
Zooming In On Griffon (GFF)
Griffon’s shares are somewhat volatile and have had 10 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 25 days ago when the stock gained 5.2% on the news that the broader market rebounded from a tech-driven sell-off, with investors taking the opportunity to buy stocks at lower prices. This rally was fueled by a recovery in technology stocks and a significant bounce in Bitcoin, which stabilized after losing over half its value from its October peak. Investor sentiment was also lifted by a surprising improvement in U.S. consumer sentiment and the realization that massive AI-related capital expenditure, such as Amazon's planned $200 billion, directly benefits chipmakers like Nvidia and Broadcom. These "pick-and-shovel" winners jumped as much as 7%, helping the S&P 500 edge back into positive territory for 2026. The highlight of the day was the Dow Jones Industrial Average, which surged and crossed the historic 50,000 threshold for the first time.
Griffon is up 10% since the beginning of the year, but at $82.54 per share, it is still trading 13% below its 52-week high of $94.84 from February 2026. Investors who bought $1,000 worth of Griffon’s shares 5 years ago would now be looking at an investment worth $3,306.
WHILE YOU’RE HERE: The Next Palantir? One satellite company captures images of every point on Earth. Every single day. The Pentagon wants it. Hedge funds are using it to beat earnings. You’ve probably never heard of it.
This is what the early days of Palantir looked like before it became a $437 billion giant. Same playbook. Different technology. If you missed Palantir, you need to see this. Claim The Stock Ticker for Free HERE.
