What's Going On With Apollo Global Management Stock?

Vaishali Prayag

November 20, 2024

Apollo Global Management Inc. (NYSE:APO) shares traded lower on Wednesday following reports suggesting President-elect Donald Trump is considering Apollo CEO Marc Rowan for the role of Treasury Secretary. Here’s what you need to know.

What To Know: According to Financial Times, Rowan, a private equity billionaire, is a top contender for the position and is scheduled to meet with Trump in Florida to discuss the role.

The Apollo CEO is reportedly being supported by several Wall Street figures who cite his extensive experience in financial markets. However, competition for the Treasury Secretary role remains strong, with hedge fund investor Scott Bessent and former Federal Reserve governor Kevin Warsh also under consideration.

Apollo Global Management oversees more than $700 billion in assets under management. A transition to a government role for Rowan could pose operational challenges for the company, but is reportedly considered manageable by Apollo insiders. The news has created uncertainty among investors, which turned into a selloff on Wednesday.

No official comments have been made by Apollo Global Management regarding Rowan's potential selection.

APO Price Action: Apollo shares closed Wednesday down 3.2% at $162.87, according to Benzinga Pro.

Read Next:

Here’s How Much $100 Invested In Cardano Today Could Be Worth If ADA Hits New All-Time Highs

Photo by solarseven on Shutterstock.

Recommended

Single Stock Blueprint Available Now - Ad

What Does Trump's Presidency Mean for Elon Musk's AI Venture? - Ad

The Secret Weapon You Need for This Bull Market - Ad

Palantir Technologies Inc has been making headlines after its board member, and partner at 8VC, Alex Moore deleted his X (formerly Twitter) account after saying in a tweet that its move to Nasdaq will "force billions in ETF buying."

Donald Trump Victory Week: These 10 Large Cap Stocks Were the Biggest Gainers

The 10 top-performing large-cap stocks last week.

6 AI Stocks Set to Skyrocket in the Next Big Boom

6 AI Stocks Set to Skyrocket in the Next Big Boom - Ad

For over 40 years, Louis Navellier has built his reputation by identifying the most promising tech stocks--long before anyone else. He recommended Apple at $1.49. Dell at under a dollar... And Microsoft at just 39 cents. Now, in the wake of the election, Louis says the next major boom in AI stocks is just beginning. He's identified six AI stocks that are uniquely positioned to capitalize on the current market environment--and potentially deliver massive returns as AI continues to revolutionize industries.

As US ramps up nuclear power, fuel supplier plans to enrich more uranium domestically

OAK RIDGE, Tenn. (AP) — A supplier of fuel for nuclear power plants announced a $60 million expansion in Tennessee on Wednesday, promising to resume and grow its manufacturing of high-tech centrifuges there to enrich uranium at its facility in Ohio.

Ben & Jerry's lawsuit accuses parent company of censorship over Gaza

Ben & Jerry’s has sued its parent company Unilever accusing it of silencing the ice cream maker from making statements in support of Palestinians in the Gaza war.

Trump's Win Could Signal Economic Change -- Are You Ready?

Trump's Win Could Signal Economic Change -- Are You Ready? - Ad

As Trump begins his next term, Americans may see shifts in policies that could reshape the economy. These changes, along with rapid advancements in technology, could present both challenges and opportunities. Don't be caught off guard -- see how you can prepare to secure your financial future, whatever comes next.

NBA Legend Shaq's Daughter Breaks Silence On Dad's Career, Defying Family Expectations: 'It's A No Go For Me'

In a departure from her family's sports-oriented legacy, Taahirah O'Neal, the eldest daughter of basketball legend Shaquille O'Neal, has chosen to pursue a different career path and lifestyle.

Larry Kudlow As Trump Economic Advisor? Fox Business Host Under Consideration For Return To White House

Larry Kudlow is the latest name to be reported for a role within the new Donald Trump White House administration. Kudlow previously served under Trump from 2018 to 2021.

Forget Nvidia, Apple, Tesla, and Google

Forget Nvidia, Apple, Tesla, and Google - Ad

Market Wizard Larry Benedict: "Forget 99% of stocks: It's possible to make all the money you need for a happy retirement with just this one."

Spirit Airlines files for bankruptcy as financial losses pile up and debt payments loom

Spirit Airlines said Monday that it has filed for bankruptcy protection and will attempt to reboot as it struggles to recover from the pandemic-caused swoon in travel and a failed attempt to sell the airline to JetBlue.

World Bank Worries Over Budget Cuts After $24B Mishap, Trump Win

In light of President-elect Donald Trump's commitment to trim US government expenditure, the World Bank, currently under investigation for the misplacement of $24 billion in climate funds, is bracing for substantial budget reductions.

Grab Your Free Bitcoin Now! (Limited Time)

Grab Your Free Bitcoin Now! (Limited Time) - Ad

The crypto bull market is heating up, and now's the perfect time to grab your free Bitcoin. Just attend one of this week's exclusive workshops, immerse yourself in the knowledge, and complete a short quiz. $10 in BTC will be sent straight to your crypto wallet.

Musk And Ramaswamy Seek Spending Cut Wins Where Others Failed

Elon Musk and Vivek Ramaswamy have set their sights on curbing federal expenditure, leveraging the Republican dominance in both chambers of Congress.

Cathie Wood Draws Reagan-Era Parallels As Elon Musk Takes DOGE Helm: 'This Bull Market Has Just Begun To Broaden Out'

Cathie Wood, CEO of ARK Invest, endorsed the newly created Department of Government Efficiency (DOGE) under Elon Musk‘s leadership while advocating for stricter government spending controls in a series of posts on X on Sunday.

[Breaking] Classified Wargames Reveal Grave Threat From China

[Breaking] Classified Wargames Reveal Grave Threat From China - Ad

In multiple wargames, U.S. forces were overwhelmed and unable to stop Chinese amphibious assaults from seizing the island. With tensions at a boiling point, the economic fallout could be devastating. Get the details on the weapons makers set to boom if war breaks out.

What's Going On With NIO Stock Today?

NIO Inc.'s stock is rising after the company reported strong demand for its Onvo L60 electric vehicle, reduced delivery times, and plans for international expansion, including entry into Azerbaijan.

Trump's treasury pick could give an indication of what he plans to do about tariffs

WASHINGTON (AP) — President-elect Donald Trump’s decision on a treasury secretary is about far more than whose name will be printed on America’s money.

The Dark Truth About AI Stocks

The Dark Truth About AI Stocks - Ad

All the signs show the AI market is about to reverse. And unless you know what's really going on in this sector, you could be wiped out. Inside this new expose, you'll discover exactly how the AI crisis will unfold... how you can prepare for it before it's too late... and how you can potentially profit from it, too.

Elon Musk's Mother Does Harris Impression During TV Appearance

Maye Musk, mother of Elon Musk, has sparked a flurry of reactions following her controversial imitation of Kamala Harris on Fox Business.

'Inside the NBA' will air on ESPN and ABC as part of settlement between WBD and NBA

“Inside the NBA” will continue, even though games will no longer be airing on TNT at the end of this season.

Elon Musk Is in Trump's "Inner Circle"

Elon Musk Is in Trump's "Inner Circle" - Ad

Elon Musk is one of Donald Trump's closest allies. James Altucher says that what Elon has planned next could lead to the world's first "Super-IPO" -- creating $100 billion on the first day it goes public! This "backdoor" play could be the best way to profit before the IPO...Starting with as little as $50.

Strike by workers at a casino near the Las Vegas Strip enters 2nd day

LAS VEGAS (AP) — A walkout by hundreds of hospitality workers at a casino near the entered its second day with union members willing to undergo the financial hardships of being out of work as they wait for a new contract.

Astros ballpark to be renamed Daikin Park from Minute Maid Park on Jan. 1

HOUSTON (AP) — The Houston Astros' home will get a new name on Jan. 1, becoming Daikin Park under an agreement through the 2039 season the team announced Monday.

Trump's Win Marks a New Era for AI Stocks

Trump's Win Marks a New Era for AI Stocks - Ad

With Donald Trump back in the Oval Office, Louis Navellier says the next wave of AI winners is already taking shape. Discover which stocks could benefit from his first moves.

Financial Crime Weekly: Darknet Money Laundering, Crypto Scams, Invesco Pays $17.5M SEC Penalty

Man Sentenced To 12 ½ Years For Bitcoin Money Laundering On The Darknet

Kingsoft Cloud Q3 Earnings: Revenue Surges 16%, AI Growth Fuels Profits, CEO Shares Optimistic Outlook

Kingsoft Cloud Holdings (NASDAQ: KC) reported Q3 2024 revenue of 1.89 billion Chinese yuan, beating analyst estimates. AI business drove growth and company remains committed to sustainable development strategy.

Elon Musk: "AI Will Run Out of Electricity ... in 2025"

Elon Musk: "AI Will Run Out of Electricity ... in 2025" - Ad

This AI boom is going to push America's power grid to the brink... Elon Musk even recently said that AI could run out of electricity by 2025. This crisis may just reveal one of the greatest investment ideas we are ever going to find. My research has recently uncovered two companies that could make a massive difference today.

Tesla Registrations Drop By Over 20% In October In EU, Possibly Hindering Its 2024 Global EV Delivery Target

Tesla's new vehicle registrations in the EU are continuing to drop, threatening the company's global EV delivery target for the year.

What to know about Chris Wright, Trump's choice to run the Energy Department

WASHINGTON (AP) — Fossil fuel executive Chris Wright, Donald Trump's choice for Energy secretary, is a strong supporter of , including fracking, a key pillar of the president-elect’s quest for U.S. “energy dominance” in the global market.

Our No. 1 Defense Stock to Own Right Now

Our No. 1 Defense Stock to Own Right Now - Ad

Advance Auto Parts is closing hundreds of stores in an effort to turn its business around

NEW YORK (AP) — is closing more than 500 stores and shedding another 200 independent locations as part of its efforts to revive its struggling business.

US Stocks Likely To Open In Red Amid Mounting Geopolitical Tensions: Wharton Economist Says Market Trajectory Will 'Heavily Depend' On Trump's Tariff Plans

U.S. stocks could open on a negative note on Tuesday after the averages maintained a cautious stance last week. Futures of all three major indices were slightly down on Tuesday, pointing to a cautious sentiment on Wall Street.

How Musk & Trump Could Launch These Stocks Higher

How Musk & Trump Could Launch These Stocks Higher - Ad

Tesla (TSLA) stock has surged. But the real opportunity? Musk's AI venture, xAI. With Trump's presidency, xAI could soon lead the AI race, backed by strong government connections and fewer regulatory barriers. This powerhouse collaboration could fuel massive growth in the AI sector, and xAI may become Elon's biggest company yet.

Mississippi Gulf Coast restaurant and its co-owner are sentenced for mislabeling seafood

GULFPORT, Miss. (AP) — A Mississippi Gulf Coast restaurant and its co-owner it were sentenced Monday on federal charges of as local premium fish.

T-Mobile Hit By Chinese Hackers After Rivals AT&T, Verizon Suffer Breach: Report

A major cyber-espionage operation linked to Chinese intelligence has reportedly infiltrated T-Mobile and other telecom networks.

Why Trump's Victory Could Fuel the Next AI Surge

Why Trump's Victory Could Fuel the Next AI Surge - Ad

Louis Navellier, tech investor and market veteran, believes Trump's return will drive a second AI boom. Get the top six stocks he recommends before they skyrocket.

Court says it's ending dispute over control of airport in Mississippi's capital city

JACKSON, Miss. (AP) — A federal appeals court says it is ending a long-running dispute over whether the state or the city will in Mississippi's capital of Jackson, apparently clearing the way for a new board controlled mostly by state-appointed members.

Working Well: The simple act of taking deep breaths can reduce stress and anxiety

NEW YORK (AP) — A simple, uncommon ritual starts each staff meeting at Myosin Marketing. When everyone is gathered , and before they get to the meat of the agenda, CEO Sean Clayton leads his team through .

The 7th Trillion Dollar Company?

The 7th Trillion Dollar Company? - Ad

There are six American companies worth over $1 trillion. Could there be a seventh soon? This company signed a massive deal with Apple until 2040 and is also involved with Nvidia, Google, and Samsung. Could this be the next trillion-dollar company? A top stock expertpicker thinks so.

The right book can inspire the young readers in your life, from picture books to YA novels

It's , but that doesn't have to mean waiting in long lines for big sales to buy the hottest toy or newest game system. Whether you're a parent, relative, teacher, librarian or just a friend to a young person, that you can enjoy together.

Trending Now