As investors debate whether the market rally still "has legs," four Dow components have more than doubled since the Dow hit a multi-year low. Indeed, the Dow Jones Industrial Average has advanced 26.8%, after closing at 6,547.05 on March 9th; its lowest close since April 14, 1997.
As of midday Friday, twenty-nine of the thirty Dow components are trading higher since the market's low, with an average gain of 48.5%. General Motors , is the only Dow component that has not benefited from the rally. Shares of the automaker have dropped 35% since March 9th, trading at $1.09.
And the companies that have seen their shares more than double since the market's low?Citigroup, Bank of America, American Express, and JPMorgan are the four companies that have posted gains north of 100%. Citigroup's shares, for example, are trading up 235%, after closing at $1.05 on March 9th. However, despite recent gains, Citigroup shares continue to trade down 47.5% year-to-date.