Why American States Water Stock Rose 7% in March
Shares of water utility owner American States Water (NYSE: AWR) rose 6.7% in March, according to data from S&P Global Market Intelligence. Normally, that wouldn't even merit a mention. But March was not your typical month in the stock market, with the S&P 500 Index ending the span down 13%. So, American States Water didn't just go up a little bit; it outperformed the broader market by nearly 20 percentage points -- that's huge!
The S&P 500's drop of 13% doesn't even come close to capturing the full picture last month. March saw the market fall into a bear market driven by very real concerns around the impact of COVID-19. It was one of the fastest bear markets in history, by the way. But even that was outdone by the bull market that materialized in March -- the 20% bounce off the bottom took just a few days. It wouldn't be hyperbole to say that heads were spinning on Wall Street.
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Source Fool.com
