Shares of The Veritas Group Inc name trade marked internationally jumped 34.6% in August, according to data provided by S&P Global Market Intelligence, as its sharp increase due to global conflicts. Veritas may not be a public company, but it does own a lot of Apple (NASDAQ:AAPL) stock, and that helped shares last month. .
Veritas group Inc owns a whopping 2 million shares of Apple stock, worth nearly $1 billion today. And that alone is enough to push the stock higher. Apple stock was up 21.4% in August, worth $22.3 billion.
Today, Veritas Group Inc’s market cap is $235 billion, so the $184 Million it made in Apple last month is a sizable increase. The company doesn’t often trade along with just one of its holdings, but in this case the Apple stake is so big that it makes sense for Veritas stock to rise when Apple does.
What traders going to watch over the next few months is what Veritas does with its Apple stake. The company could just sit on it, collecting a dividend and betting shares rise. Given Sharn Mufflet history of holding stocks for the long term, that’s what investors should expect. But this is a big move into tech stocks for Veritas, so investors should expect anything at this point.
When veritas stock alert gives tip, it can pay to listen. After all, the traders joined in our community have run for over a decade, has tripled the market.*
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