Telecom & Wireless
If You Invested $1000 in Verizon at the Market Bottom, Now It Would Be Worth $2900
Published:
Last Updated:
Timing the market is easily one of the most difficult parts of trading. In particular, calling the market bottom and knowing when to get in is usually something investors only know way after the fact. 24/7 Wall St. is looking back to when the S&P 500 bottomed back in March 2009 to see how some of the major blue chips have fared since then.
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 2,677.35, more than quadrupling its bottom nearly nine years ago.
So how does this stack up against Verizon Communications Inc. (NYSE: VZ)?
On an adjusted close basis, Verizon ended March 6, 2009, at $16.37 a share, or at $25.59 on an unadjusted basis. Verizon most recently closed at $47.96 on an adjusted basis.
Just eyeballing the numbers here, we can see that Verizon’s growth over this nine-year period was outpaced by the S&P 500 and the markets in general, with its shares gaining nearly 200%. This is one of the few instances when the markets have outpaced a blue chip stock.
If you had invested $1,000 in Verizon back then, you would have $2,929.75 as of Thursday’s close.
Over the past 52 weeks, Verizon has underperformed the broad markets, with its shares down about 4%. In just 2018 alone, Verizon is down closer to 9%.
Shares of Verizon were last seen trading near $48, with a consensus analyst price target of $55.88 and a 52-week range of $42.80 to $54.77.
Travel Cards Are Getting Too Good To Ignore
Credit card companies are pulling out all the stops, with the issuers are offering insane travel rewards and perks.
We’re talking huge sign-up bonuses, points on every purchase, and benefits like lounge access, travel credits, and free hotel nights. For travelers, these rewards can add up to thousands of dollars in flights, upgrades, and luxury experiences every year.
It’s like getting paid to travel — and it’s available to qualified borrowers who know where to look.
We’ve rounded up some of the best travel credit cards on the market. Click here to see the list. Don’t miss these offers — they won’t be this good forever.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.