US Fire and Security Stocks Experience $900 Million Market Cap Loss After Rally

API Group Corporation (NASDAQ: APG), a U.S. fire-protection and security equipment provider, closed down 5.31% at $41.36 on the New York Stock Exchange on the 10th, erasing roughly $900 million in market capitalization (about ₩1.4 trillion). Trading volume exceeded 1.72 million shares, reflecting short-term profit-taking and heightened volatility.

The company recently reported Q1 2026 results that slightly beat market expectations and raised its full-year revenue and EBITDA guidance. It is emphasizing its growth outlook based on an approximately $1 billion fire-safety acquisition deal. Bank of America has reaffirmed its Buy rating and $53 price target, citing the Onyx acquisition’s benefits, and plans to issue about $500 million (around ₩760 billion) of unsecured bonds to help finance the deal.

Headquartered in Minnesota, API Group offers facility services—including fire and life safety, security, and elevator/escalator maintenance—across more than 500 locations worldwide, managing commercial and industrial properties. Acquired in 2019 by an investment vehicle led by Martin Franklin, the company went public on the NYSE in 2020. Its current market capitalization stands at about $18 billion (approximately ₩27 trillion).