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Local Stock Prices Mixed
- Article from:
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Quad - State Business Journal
- Article date:
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June 1, 2008
- Author:
- Heerwagen, Peter
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Copyright informationCopyright News for Business, Inc. Jun 2008. Provided by ProQuest LLC. (Hide copyright information)
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The first five months of the year have been marked by extreme volatility in the stock market, as the Dow-Jones Industrial Average hit a low of 12,500 in early March, triggered by a near meltdown in the financial stocks after the Bear Stearns bailout.
Since March, the averages have rebounded a bit, but are still below the January numbers. The unweighted average performance of the nine local stocks since the beginning of the year was 1.3%.
With a 47.5% gain, the best performing stock was that of Winchester-based Trex Company, followed by a 25.8% gain by American Woodmark Corp. Both companies' shares suffered in 2007 due to the housing downturn.
Trex, which incurred large losses in 2007, has ...