A popular hedge fund stock has hit the skids this year after putting up some nice gains between late September 2022 and April 2024. APi Group Corp (NYSE:APG) provides various specialty contracting services to the energy industry with a focus on transmission and distribution in the U.S. and Canada.
What most funds have been talking about over the last year or so is APi's fire safety solutions, which its customers are required to purchase. APi stock has soared 62% over the last three years and is up 25% over the last year following a three-month drop of 13%, which...