Argentina oil company YPF spikes 40% as investors cheer president-elect Milei's promises to revamp the economy

• Shares of state-oil firm YPF soared 40% on Monday after Javier Milei's presidential victory.
• Milei has promised to revamp the Argentine economy, and also said he would seek to privatize YPF.
• Milei won the Argentine presidential election Sunday against Economy Minister Sergio Massa.

Argentine state energy company YPF saw its New York-listed shares spike more than 40% on Monday, following Javier Milei's presidential election victory on Sunday.

Around 2:00 p.m. EST, the stock hovered at $14.90, up 38.82% on the day.