Freedom Holding Corp (FRHC) closed down 0.79% at $122.72 on February 2, with the movement attributed entirely to broader market dynamics rather than any company-specific catalysts.
- The decline aligned with a significant market rotation, seeing investors shift capital from high-growth technology stocks toward defensive blue-chip companies and industrial exporters.
- This defensive positioning was primarily driven by Fed policy uncertainty following the nomination of Kevin Warsh as Fed Chair and strong manufacturing data (ISM PMI at 52.6), suggesting delayed interest rate cuts.