Exactly one year ago, on March 9, 2009, the stock market hit its lowest point of the recession, and it was an abyss. Many blue chips had lost half or more of their value in the most severe bear market in 80 years.
On the anniversary of that day, stocks on the average have come back more than 65% in price. How have the railroads fared?
Far better than the average, for the most part.
A year ago today, Norfolk Southern shares bottomed at $26.69. They rose to $54.00 in mid-afternoon trading today, up 102.39% in a year.
CSX shares went from $20.00 a year ago to around $50.00 today, up 147.5%.
The price of a Union Pacific share bounded from $33.28 to $71.22,a 114% increase.
Kansas City Southern took the worst battering during the bear market, dropping to $12.15, and recovered most spectacularly, rising 195% to reach $36.16 on March 9, 2010.
In Canada, CN shares went from $29.57 to $56.29, up 90.3%; CP increased from $25.14 to $54.20, up 117.6%.