Thursday, August 29, 2013

Maine Corps Stock Prices Up 177% Since President Obama Took Office

From a review of SEC filings, I found 5 Corps headquartered in the State of Maine which generated Core, Ongoing Pretax Income or Pretax Loss of at least $10 mil each in any of the first three years of the Obama Administration (2009, 2010 or 2011), and which also had their common stock trading on both January 16, 2009, which is the last day stocks traded before President Obama took office, and also yesterday, August 28, 2013.

These 5 Maine Corps had their average stock prices increase by 177% from January 16, 2009 to August 28, 2013.  This 177% increase is 1.9 times the 92% increase in the S&P 500 Index over the same time span.

The overwhelming majority of this 177% increase occurred in the first two years of the Obama Administration, when both the US Senate and the US House were under Democratic control.

Probably more than any other state, Maine's US Senators have effectively worked across the aisle by wisely compromising on key issues, with the beneficiaries being US businesses and US citizens.  Now if this could only spread to the other 49 states. 

Below here are the common stock market closing prices of each of these 5 Maine Corps at both the most recent date (August 28, 2013) and also at the date just before President Obama took office in his first term (Jan 16, 2009), as well as the percentage stock market price changes for this period of time:

Market Market Percentage

Maine Price Price Increase

HQs 8-28-13 1-16-09 (Decrease)
Maine Largest Corps

WEX, Inc South Portland $82.12 $12.01 584%
Idexx Laboratories Westbrook $95.28 $31.49 203%
Camden National Corp Camden $38.55 $24.84 55%
Bar Harbor Bankshares Bar Harbor $36.00 $23.70 52%
First Bancorp Damariscotta $16.62 $17.74 -6%

Average Increase: All 5 Largest Maine Corps


Dow Industrials Index
14,824.51 8,281.22 79%
S&P 500 Index
1,634.96 850.12 92%
S&P Mid-Cap 400 Index
1,196.07 516.75 131%
S&P SmallCap 600 Index
576.36 247.89 133%