The Increasing Need To Follow Only Accurate Financial News

At periods such as this where uncertainty is at its peak thanks to the brewing pandemic that is #COVID19 amongst other things like how oil prices crashed and more, it is natural to find the global stock market experiencing increased levels of volatility.

Just a few days ago, on Wednesday the 11th of March, various news platforms had it that Dangote – the richest man in Africa by virtue of his company, Dangote Cement Plc, lost a whopping N240 billion in five hours.

The company being Nigeria’s most capitalized quoted company accounting for over 20% of the total market capitalization, had its share price drop by N17 from N170 to close at N153 which is what led to a net loss of N289.68 billion.

In the United States, losses are also being incurred by many of the billionaires. One of such is by the co-founder of Facebook, Mark Zuckerberg who is said to have incurred the biggest one-day decline. Reports have it that his fortune plunged by $9 billion.

On the flip side, also in the US, the new rise of social distancing as a result of the coronavirus pandemic has pushed another billionaire higher up the scale. Eric Yuan, the founder of Zoom Video Communications Inc. – makers of the Zoom conferencing app added $20 million to his net worth even though the entire S&P 500 crashed by 12%.

At periods such as this where uncertainty is at its peak thanks to the brewing pandemic that is #COVID19 amongst other things like how oil prices crashed and more, it is natural to find the global stock market experiencing increased levels of volatility.

While on one hand, this volatility could move in the direction of a general fall in stock prices creating an opportunity for the daring investors to purchase stocks at much lower rates for their values, there is a truth that it could also move in the other direction.

The stock market could also make gains either because certain companies outperform the market because of their specifics (like Zoom) or simply because everybody rushes to buy stocks at low prices at the same time, thereby pushing the stock prices even higher thanks to the increased demand.

Whatever the case may be, without sound eyes and ears on the financial happenings in Nigeria and around the world, you could lose out on opportunities – either to make gains or to take relevant precautionary measures.

Another thing that will become prevalent is the availability of different kinds of information – some true, and many fake. Many investors will ride on the wave of fake news and end up making irrational decisions that will ultimately be to their detriment.

There is, therefore, a need for the investment-conscious to be a little more vigilant by not just keeping an eye on the market, but also being able to separate fake news from correct news.

For your eyes and ears into the Nigerian Stock Market, Yochaa’s heat map is your go-to reliable source of information, providing you accurate stock market trends on the go.

Where you want to or have invested in the foreign market, ensure that before you make any decision particularly in this period, that you have all the accurate information required to guide you.

With this, you will have nothing to worry about as time will ultimately take its course and your investments will return to the mean in no time.

Written by Lawretta Egba.