The following monthly chart of BlackRock Inc. (BLK) shows that it has had difficulty sustaining gains above 400.00, when it broke above that level in April 2017...from a base that began to form in October 2013 at 300.00.

It hit a high of 973.16 in November 2021, before plummeting to a low of 504.64, so far, this month.

As of this week's close, BLK is down by 41.80% from its record high.

(Click on image to enlarge)

(Click on image to enlarge)

Apparently, the company is ready to invest in U.S. energy pipelines, once those projects are green-lit by the Biden government...expanding its holdings beyond ESG-aligned investments.

It seems like those "Environmental Social Governance" investments haven't been so profitable for BlackRock's shareholders, after all...since many are withdrawing their funds from their management.

Until the US Fed is finished raising interest rates to combat 40-year high inflation, and until the Biden administration is ready to reverse its devastating war against fossil fuels, BLK will, no doubt, experience further pain and losses, along with the US equity market, in general, as described in my post of October 14.

BLK may retest 500.00, or even drop further to 400.00...or lower, yet.

(Click on image to enlarge)

Source: Oilprice

(Click on image to enlarge)

Oilprice excerpt

(Click on image to enlarge)

Oilprice excerpt

(Click on image to enlarge)

Source: ZeroHedge

(Click on image to enlarge)

ZeroHedge excerpt

More By This Author: