What Happened?
A number of stocks fell in the afternoon session after geopolitical tensions in the Middle East intensified, pushing major indices into correction territory.
The Dow Jones Industrial Average and the Nasdaq both fell more than 10% from their recent highs, a drop known as a "correction." This downturn was fueled by the conflict with Iran, which roiled markets and dampened investor sentiment. The primary concern was the surge in oil prices, a direct consequence of the geopolitical instability. Higher energy costs stoked inflation fears, leading investors to anticipate a "higher-for-longer" interest rate environment. This broad market decline reflected a classic "risk-off" sentiment, where investors move away from equities toward safer assets amid global uncertainty.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.
Among others, the following stocks were impacted:
- Specialized Technology company Mirion (NYSE: MIR) fell 3.8%. Is now the time to buy Mirion? Access our full analysis report here, it’s free.
- Satellite Telecommunication Services company Globalstar (NASDAQ: GSAT) fell 2.5%. Is now the time to buy Globalstar? Access our full analysis report here, it’s free.
- Electronic Components & Manufacturing company Knowles (NYSE: KN) fell 3.7%. Is now the time to buy Knowles? Access our full analysis report here, it’s free.
- Digital Media & Content Platforms company Stride (NYSE: LRN) fell 2.8%. Is now the time to buy Stride? Access our full analysis report here, it’s free.
- Industrial & Environmental Services company Driven Brands (NASDAQ: DRVN) fell 2.5%. Is now the time to buy Driven Brands? Access our full analysis report here, it’s free.
Zooming In On Mirion (MIR)
Mirion’s shares are very volatile and have had 26 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 7 days ago when the stock gained 4.4% on the news that oil prices fell sharply following reports of de-escalating tensions between the U.S. and Iran.
The positive market sentiment came after President Trump announced that the U.S. has had "very good and productive conversations" with Iran, sparking hopes for an end to the conflict. This news sent the price for a barrel of Brent crude, a key international benchmark, plunging. Companies with significant fuel expenses, such as airlines and cruise operators, were among the day's biggest winners.
Fuel is one of the largest operating costs for these industries, so a sustained drop in oil prices can significantly improve their profit margins. Illustrating the trend, shares of American Airlines and United Airlines climbed around 4.9% and 4.5% respectively, while Norwegian Cruise Line Holdings surged 7.9%.
Mirion is down 27.3% since the beginning of the year, and at $17.33 per share, it is trading 41.8% below its 52-week high of $29.75 from October 2025. Despite the year-to-date decline, investors who bought $1,000 worth of Mirion’s shares 5 years ago would now be looking at an investment worth $1,669.
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