Lesson From 2008 Slowdown: Commercial Metals’ Stock Could Gain 20% Post COVID-19

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Saudi Arabia

Lesson From 2008 Slowdown: Commercial Metals’ Stock Could Gain 20% Post COVID-19

Comparing the trend in Commercial Metals Company (NYSE: CMC) stock over recent months with its trajectory during and after the Great Recession of 2008, we believe that the stock could potentially gain close to 15%-20% once fears surrounding the coronavirus outbreak are abated.. The World Health Organization declared a global health emergency at the end of January in light of the coronavirus spread.. We see Commercial Metals' stock decreased from levels of around $22 in October 2007 (the pre-crisis peak) to roughly $7 in March 2009 (as the markets bottomed out) - implying that the stock lost about 67% of its value from its approximate pre-crisis peak.. Commercial Metals' stock increased at a faster rate post the 2008 crisis to about $11.50 in early 2010 - rising by 57% between March 2009 and January 2010.. Commercial Metals' stock had outperformed the market post 2008 crisis, with the decline in stock also being higher than the broader market through the crisis.. Led by MIT engineers and Wall Street analysts, Trefis (through its dashboards platform dashboards.trefis.com) helps you understand how a company's products, that you touch, read, or hear about everyday, impact its stock price..

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