Stocks Post Double-Digit Returns from December Lows
Since the market plunge of late 2018 tentatively began to recover on December 26, the S&P 500 has rebounded a very impressive 8% (as of the market close on Monday, 1/7/2019). Helping to lead the way during this solid bounce have been surging large cap stocks that were previously under heavy pressure along with the entire market. These stocks have surprisingly been able to post double-digit returns within the span of around two weeks.
Here are some of the best performers among major S&P 500 companies since the late-December market lows:
Even the most battered stocks of late, including both General Electric and DISH network, have been able to rebound by a very substantial 26% and 19% (as of Monday’s market close), respectively, since late December. Leading the pack, though, has been Netflix, which has rallied by leaps and bounds since the December 24 market close. Since then, the stock is up a whopping 34% in two weeks’ time.
While these double-digit returns may not necessarily be a harbinger of what’s to come with the overall market, it’s heartening to see that some of the most pressured stocks in recent months have begun the new year with a strongly bullish bias.
IMPORTANT: The information above should not be construed as investment advice and should not be considered as a solicitation to buy or sell securities. Past performance is not indicative of future results. Trading and investing in the financial markets involves substantial risk of loss, and may not be suitable for all investors.
Disclosure: At the time of this article’s publication, we have no position in any security or trade/investment mentioned, nor do we have any business relationship with any company whose stock may be mentioned.
Senior Technical Analyst at The Technicals
As a momentum stock trader, Luke focuses mostly on strong market moves. Luke has been trading the markets since the early 2000s, but still gets excited by big movers. Whether a surging large-cap tech company or meteoric penny stock, Luke tracks and trades winners. A technical analysis purist, Luke authors many of our Top Stocks & ETFs reports. Contact Luke