Summary
Blackstone has been noted for being stuck at the $30-$33 a share level often for the past 3 years, with each breakout seemingly then collapsing as soon as it began.
Since the end of June Blackstone is up again, staying steady at around $35 a share, and I believe this time it may have some sticking power.
The company's fall earlier this year amid the global trade conflict was due to worries it could not sustain its earnings let alone growth amid a negative market environment.
Recent earnings have shown that Blackstone indeed seems to be able to adapt to this new landscape, growing on its essential AUM, revenue, and net income metrics despite market turbulence.
While I would not expect much more price appreciation, I think this price level might hold and pay a lucrative 7.81% dividend in the meantime.
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Blackstone (BX) investors of the past few years have been used to being disappointed with seeming Blackstone rallies, where a sudden climb brings back memories of Blackstone's $40+ a share days but then soon dissipates again.
BX data by YChartsHowever since late June it seems Blackstone has been trying to climb up and out of its consistent price level of the past 1-2 years again, as it has hovered consistently around $35 a share since, with a relatively positive earnings report in the middle of it all as well.
