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1 results

  • 9 - Conclusion

  • James J. Park, University of California, Los Angeles
  • Book:
    The Valuation Treadmill
    Published online:
    14 July 2022
    Print publication:
    28 July 2022, pp 147-148

  • Summary

    At the start of 2020, the COVID-19 pandemic posed an unprecedented threat to the economy and stock market valuations. Stock prices plummeted in March 2020 as the nation shut down, and many public companies suspended their forecasts because they no longer had confidence that they could predict their financial performance. Surprisingly, the market started to recover over the spring and summer. By the fall, the S&P 500 reached the level it was at before the start of the pandemic. By the end of 2020, the market saw a significant annual gain.