When the stock market started to nosedive in early October, shares of most of Wisconsin’s public companies went along for the harrowing ride.
While the Standard & Poor’s 500 and Dow Jones Industrial Average have plunged into correction territory — the Dow dropped 507 points on Monday, leaving it down 12 percent since Oct. 3 — state companies in various industries have watched their stock prices shrink, too.
While each company has its own story, the selloff by nervous investors isn’t necessarily a reflection of something businesses have done wrong, investment analysts said.
The Green Bay parent company of the largest bank headquartered in Wisconsin, Associated Bank, is down 30 percent from its 52-week high of $29.03. It closed Monday at $20.39.
Associated is a case in point of a company’s stock price being down with its industry during the market correction — not because of the bank's performance. Through the first three quarters of 2018, Associated's profit was up 38 percent over the same period in 2017.
Read more in the Milwaukee Journal Sentinel.