Banking, finance, and taxes
If You Invested $1000 in Goldman Sachs at the Market Bottom, Now It Would Be Worth $3500
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One of the most difficult aspects of trading is timing the market. Odds are if you have been in the market over the past nine years, most likely you made some money. This bull market began in March of 2009, and 24/7 Wall St. is looking back to see how some major blue chip stocks compared to the broad markets over this time.
Back on March 6, 2009, the S&P 500 bottomed out at 666.79, and from there began perhaps the biggest bull market of the modern era. At the most recent close, the S&P 500 was at 2,677.67, more than quadrupling its bottom nearly nine years ago.
So how does Goldman Sachs Group Inc. (NYSE: GS) compare to the markets over the past nine years?
On an adjusted close basis, Goldman Sachs ended March 6, 2009, at $72.89 a share, or $81.72 on an unadjusted basis. Goldman Sachs most recently closed at $256.78 on an adjusted basis.
Checking the numbers, it’s fairly obvious that Goldman Sachs’s growth over this period has lagged the broad markets, with shares gaining only 250%. If you had invested $1,000 in Goldman Sachs back then, you would have just $3,522.84 as of Thursday’s close.
Over the past 52 weeks, Goldman Sachs also has underperformed the broad markets, with its shares up 1.6%. In just 2018 alone, the investment bank is up less than 1%.
Shares of Goldman Sachs were last seen trading near $255, with a consensus analyst price target of $268.71 and a 52-week range of $209.62 to $273.79.
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