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SUMMARY
Global stock markets have been observing the biggest sell off since the 2008 crisis. There were two distinct trends driving the sell-off. Firstly, the increasing number of Coronavirus cases outside China is causing mounting concerns of a global economic slowdown. Secondly, crude oil prices plummeted by more than 20% after Saudi Arabia increased production.Alaska Air Group (NYSE: ALK) stock has dropped by 45% since early February, majorly due to sharp declines in air travel demand.Per recent filings, Alaska Airlines’ operated a total of 332 aircraft across 115 destinations in the United States, Mexico, Canada, and Costa Rica. However, going by the trends seen during the 2008 economic slowdown, it's possible that Alaska Airlines' stock could bounce back as the crisis winds down.In this analysis, we take a look at how the company’s stock reacted to the economic crisis of 2008 and compare its performance with the S&P 500.
2020 Coronavirus/ Oil Price War Crisis
Timeline of 2020 Crisis So Far
12/12/2019: Coronavirus cases first reported in China1/31/2020: WHO declares global health emergency.3/9/2020 to 3/12/2020: S&P 500 sees 17% drop over 4 days, as U.S. cases accelerate and oil prices crash, amid Saudi led price war.
Alaska Air Group Performance During 2020 Coronavirus/Oil Price War Crisis
Alaska Air Group stock is down by about 45% since February 1, after the WHO declared a global health emergency.
ALK Stock: Key Values During 2020 Crisis
% Change for Key Dates: 2020 Crisis
S&P 500 Index Performance During 2020 Coronavirus/Oil Price War Crisis
The S&P 500 has fallen by 25% since February 1, after the global health emergency was declared by the WHO.
S&P 500 Index: Key Values During 2020 Crisis
% Change for Key Dates: 2020 Crisis
2007-08 Financial Crisis
Timeline of 2007-08 Crisis
10/1/2007: Approximate pre-crisis peak in S&P 500 index9/1/2008 - 10/1/2008: Accelerated market decline corresponding to Lehman bankruptcy filing (9/15/08)3/1/2009 - Approximate bottoming out of S&P 500 index1/1/2010 - Initial recovery to levels before accelerated decline (around 9/1/2008)
Alaska Air Group Stock Performance Over 2007-08 Financial Crisis
ALK stock declined from levels of around $5.22 in October 2007 (the pre-crisis peak) to levels of around $4.90 in March 2009 (as the markets bottomed out) and recovered to levels of about $7.73 in early 2010. Through the crisis, ALK stock declined by just 6.1% from its approximate pre-crisis peak. This marked a fairly lower decline than the S&P which fell by as much as 51%.The stock recovered, rising by 58% between March 2009 and January 2010. In comparison, the S&P rose by about 48% over the same period.
ALK Stock: Key Values During 2007-08 Crisis
% Change for Key Dates: 2007-08 Crisis
ALK Stock: Cumulative % Change from 10/1/2007
S&P 500 Performance Over The 2007-08 Financial Crisis
The S&P declined from levels of around 1540 in October 2007 to levels of around 760 in March 2009 and recovered to levels of 1120 by January 2010. Through the crisis, S&P 500 index declined by as much as 51% from its approximate pre-crisis peak.
S&P 500 Index: Key Values During 2007-08 Crisis
% Change for Key Dates: 2007-08 Crisis
S&P 500 Index: Cumulative % Change from 10/1/2007
Related Analyses
2007-08 vs. 2020 Crisis Comparison: How Did Alaska Air Group Stock Fare Compared with S&P 500?
Coronavirus Knocked -21% From Alaska Air Group Stock, Time To Buy?
Alaska Air Group (ALK) Stock: What's the Chance for a 10% Rebound or Reversion?
Alaska Air Group (ALK): How many days did ALK stock increase or decrease by 1% or more in the last 3 months?
Alaska Airlines Revenues: How Does Alaska Airlines Make Money?
Alaska Air Group - ALK
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