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Dollar General Stock Has Rebounded 40% From Its Recent Lows. Does It Have More Upside in 2024?

TheMotleyFool

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Dollar General Stock Has Rebounded 40% From Its Recent Lows. Does It Have More Upside in 2024?: https://g.foolcdn.com/editorial/images/766411/dg2.jpg

After decades on the public markets, discount retail chain Dollar General (NYSE: DG) was taken private in 2007. Its days as a privately held company, however, were short-lived. Dollar General went public again 2009. And those who invested $1,000 in the 2009 initial public offering (IPO) have nearly $7,000 now. It's been a great market-beating stock.

But 2023 was another story entirely. From 2009 through the end of 2022, its biggest drop ever had been 31%. And pullbacks of 20% or more were rare. But in 2023, shareholders lamented as they watched shares tumble a stunning 61% from their previous highs.