Why Argentina's Oil and Gas Provider YPF Sociedad Anonima Stock Is Soaring

YPF Sociedad Anonima YPF shares are climbing Monday as several US-listed Argentina-based stocks trade higher following the election of libertarian presidential candidate Javier Milei.

The Details:

Javier Milei, a far-right libertarian economist, won the Argentine presidential election on Sunday. Milei has vowed to make sweeping changes to Argentina's economic system and has previously expressed his intention to privatize YPF, the country's integrated oil and gas provider.

Milei stated in a discussion regarding YPF, “Everything that can be in the hands of the private sector, is going to be in the hands of the private sector.”

YPF shares are moving on heavy trading volume following the election results. According to data from Benzinga Pro, more than 14.7 million shares have been traded in the session, compared to the stock's 100-day average of 1.85 million shares.

YPF shares are trading above the stock's 50-day moving average of $11.73 and near its 52-week high of $16.19, according to data from Benzinga Pro.

YPF Price Action: According to Benzinga Pro, YPF SA shares are up by 34% at $14.41 at the time of publication.

Image: OpenClipart-Vectors from Pixabay

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