Some Investors Did Find (Short-Term) Value in the Greek Crisis

Investing

Published: July 14, 2015 6:45 am

Greece will get bailed out once again. Prime Minister Alexis Tsipras agreed to $96 billion in bailout money, representing the third bailout the country has received in five years, according to MSN News. On July 7, three exchange traded funds (ETFs) with Greek exposure and one bank were highlighted here on 24/7 Wall St. Investors in these securities have fared well over the past week. Let’s take a look to see how they are performing on the stock market after the bailout announcement.

Global X FTSE Greece 20 ETF (NYSEMKT: GREK) was trading around $10 last Tuesday, when the article was published. In Monday trading, this ETF went down 4% to around $10.77 per share. This still represents a 7.7% gain from last week’s share price.

RevenueShares Global Growth ETF (NYSEMKT: RGRO) was trading around $48.80 on Tuesday of last week. The most recent quote on this ETF resides at $50.45 per share, representing a 3% increase.

Cambria Global Value ETF (NYSEMKT: GVAL) was trading around $19.25 per share last Tuesday. The ETF was down 0.8% in Monday trading and currently trades at around $20.31, roughly representing a 6% increase.

National Bank of Greece S.A. (NYSE: NBG) investors fared the best over the past week. Greek banks stand to benefit directly from any bailout deal. The company was highlighted as a risky and speculative bet. It certainly represents a risk/reward relationship. Last Tuesday, the stock traded at $0.97 per share. National Bank of Greece’s stock was down roughly 0.8% in Monday trading to $1.20 per share, representing an incredible 24% gain since last Tuesday.

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Essentially, these gains came from a desperate market breathing a sigh of relief. According to MSN News, though, Athens will need to push some reforms that may make the markets nervous again. The robust gains of these securities may be temporary, especially if the nation’s economy does not start doing better on its own without bailouts.

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