And former US Fed Chair Ben Bernanke was raised in Dillon, South Carolina and will be delivering a key economic presentation at the University of Southern Indiana in Evansville, Indiana on March 23, 2015.
Thus, as a backdrop for both this upcoming Presidential visit and a much deserved tribute to Bernanke's key role in helping the US avoid a Deep, Prolonged Financial Depression, I think it would be helpful to update just what has been going on with South Carolina businesses and the overall economy there.
I found 11 South Carolina Headquartered Companies in the superb Google Finance website and from SEC filings with current Total Market Capitalizations of at least $100 mil and which also had their common stocks trading on each of the following three dates:
- On December 31, 2007 before the financial meltdown hit
- On March 6, 2009, which was the lowest point for the US stock market due to the spillover effects resulting from the 2008 financial meltdown, and
- also on the most recent date February 27, 2015.
The historical stock prices of these companies were obtained from the following two excellent internet resources.... Google Finance and MarketWatch Big Charts.
These 12 South Carolina Companies had their equal-company weighted average stock market prices decline by a huge 59% from December 31, 2007 before the 2008 Financial Meltdown hit to March 6, 2009, which was the very lowest point for the overall stock market due to the spillover effects resulting from the disastrous 2008 Financial Meltdown.
But in the nearly six years since March 6, 2009 through the most recent date February 27, 2015, the average stock market prices of these same 12 South Carolina Companies have increased by an exceptional 535%.
There has been something upwardly explosive happening with the South Carolina Companies Stock Market Prices in the most recent nearly six years and among others, President Obama, Ben Bernanke, South Carolina US Senator Lindsay Graham and South Carolina US House Representative James Clyburn have all undoubtedly helped here.
Below here are the stock market prices of each of these 12 South Carolina Companies on February 27, 2015, on March 6, 2009, and on December 31, 2007, along with the related Stock Market Price Percentage Changes:
|South Carolina Company||HQs||2-27-15||3-6-09||12-31-07||2-27-15||3-6-09||2-27-15|
|3D Systems Corp||Rock Hill||SC||30.47||1.54||5.15||1874%||-70%||492%|
|Pernix Therepeutics||Mount Pleasant||SC||10.73||0.91||1.98||1079%||-54%||442%|
|Southern First Bancshares||Greenville||SC||16.28||3.57||10.29||356%||-65%||58%|
|First Citizens Bancorp||Columbia||SC||922.25||225.00||660.00||310%||-66%||40%|
|South State Corp||Columbia||SC||67.53||17.72||31.67||281%||-44%||113%|
|AVX Corp||Fountain Inn||SC||14.25||8.31||13.42||71%||-38%||6%|
|Average % Change all 12||535%||-59%||139%|