Oracle Stock Is 54% Below Its High. The Last Time It Fell That Far, Getting Back Took More Than a Decade.
Nearly 17 years passed before the software giant's shares saw their old peak again. Demand wasn't the problem.
Overview
Oracle (NYSE:ORCL) closed at $158.78 on Friday, 54% below its record high of $345.72. The stock set that high on Sept. 10 of last year -- one year to the day before its next earnings report, scheduled for Thursday, Sept. 10.
Shares have been in a hole this deep before. Measured on monthly closing prices, adjusted for stock splits, the stock peaked at $45.47 in August 2000 and fell 83% to $7.86 by September 2002. It didn't close a month above the 2000 level until June 2017, nearly 17 years after the peak.
Details
Before that history scares anyone out of the stock, though, it's worth looking at what made the last recovery so slow. It wasn't the business.
Source
Originally published at www.fool.com.