News Summary
Rhode Island’s publicly traded companies are experiencing mixed stock performances due to ongoing economic challenges since tariffs were announced in April. While CVS Health and United Natural Foods have shown growth, companies like Bally’s and AstroNova are facing significant declines. Market analysts express concerns regarding the broader implications of trade policies, especially given a potential recession that could further impact local firms. As businesses navigate these challenges, their responses will be crucial in determining future stability in the market.
Rhode Island has been navigating through a turbulent economic landscape as its publicly traded companies have faced a mixed performance amid ongoing market volatility since President Trump assumed office. Following the announcement of tariffs in April, the stock prices of various Rhode Island-based firms have experienced fluctuations, although some have shown signs of recovery over the past two months.
As of June 26, 2025, the stock prices of key companies are as follows:
- CVS Health: Stock price at $68.14, reflecting a 16.8% increase from $58.36 on June 27, 2024, with a market cap of $86.2 billion.
- Textron: Stock price currently at $80.26, a decrease of 7% from $86.34 on June 27, 2024, and a market cap of $14.5 billion.
- Hasbro: Prices have risen to $72.31, marking a remarkable 24.3% increase from $58.16 a year prior, leading to a market cap of $10.1 billion.
- Citizens Bank: Stock is priced at $44.12, up 27.4% from $34.63 on June 27, 2024, with a market cap of $19.1 billion.
- Washington Trust: Current stock price is $28.17, an increase of 6.3% from $26.51 last year, with a market cap of $543.4 million.
- United Natural Foods: Stock has surged to $21.48, a significant 66.5% increase from $12.90 on June 27, 2024, and with a market cap of $1.3 billion.
- Bally’s: The stock price has dropped to $9.96, reflecting a steep decline of 54.87% from $22.07 on November 21, 2024, with a market cap of $488.2 million.
- AstroNova: Currently priced at $9.28, down 38.75% from $15.15 a year ago, with a market cap of $70.5 million.
The impact of economic instability has been felt deeply across sexectors, particularly for Hasbro, which saw its stock plummet by 20% following the tariff announcements. About 40% of the company’s products are sourced from China, making it particularly vulnerable to changes in trade policies. This vulnerability has led to considerations of relocating its headquarters from Pawtucket to Boston, although a decision has been postponed until the summer, with local officials offering various incentives to retain the company in Rhode Island.
Market analysts have pointed to the broader implications of the tariff policies and trade disputes initiated during Trump’s administration. Following the announcement of these tariffs, many companies in the state saw their stock prices drop substantially within 48 hours, reflecting widespread investor anxiety. Concerns have only heightened as Goldman Sachs has recently indicated a 45% chance of an impending recession, putting further pressure on both local and national markets.
Overall, while some companies like CVS Health and United Natural Foods have demonstrated resilience and notable growth in their stock values, others like Bally’s and AstroNova have struggled significantly, reflecting the varying levels of exposure each firm has to the ongoing economic turmoil. Moving forward, the stability of Rhode Island’s publicly traded companies will largely depend on both the national economic climate and the individual business strategies that firms adopt in response to these challenges.
As Rhode Island continues navigating through this economic turbulence, the performance of its publicly traded companies will be closely monitored, with stakeholders eagerly awaiting clarity on future economic policies and their potential impacts.
Deeper Dive: News & Info About This Topic
- Rhode Island Current: Hasbro Stocks Plunge
- Boston Globe: Stock Market Plummets
- GoLocalProv: RI’s Public Companies Hammered
- Providence Journal: RI Public Companies & Stock Market Freefall
- GlobeNewswire: KVH Announces Purchase Agreements
- Wikipedia: Rhode Island
Author: STAFF HERE PROVIDENCE WRITER
The PROVIDENCE STAFF WRITER represents the experienced team at HEREProvidence.com, your go-to source for actionable local news and information in Providence, Providence County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as WaterFire, Rhode Island International Film Festival, and Rhode Island Comic Con. Our coverage extends to key organizations like the Greater Providence Chamber of Commerce and Providence Warwick Convention & Visitors Bureau, plus leading businesses in finance and manufacturing that power the local economy such as Citizens Financial Group and Textron. As part of the broader HERE network, we provide comprehensive, credible insights into Rhode Island's dynamic landscape.
