2020 Coronavirus vs 2008 Crisis Comparison: How Exxon Mobil Stock Fare Compared with S&P 500?

by Trefis Team
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Exxon Mobil (NYSE:XOM) stock took a big hit, falling by about 16% on Monday, as the broader S&P 500 fell by over 7%. The stock is down by a total of over 30% since early February. There were two broad trends driving the sell-off. Firstly, the increasing number of Coronavirus cases outside China is causing mounting concerns of a global economic slowdown. More importantly, crude oil prices plummeted by more than 20% after Saudi Arabia launched an all-out price war by boosting production in a bid to gain market share. In this analysis, we compare the performance of XOM to the S&P 500 over the current crisis and the economic crisis of 2007-08 to take a look at where the stock could be headed.

View our detailed dashboard analysis 2007-08 vs. 2020 Crisis Comparison: How Did Exxon Mobil Stock Fare Compared with S&P 500?

Exxon Stock Vs. S&P 500 2020 Coronavirus/Oil Price War Crisis

  • XOM stock declined by 32% since the WHO declared a global emergency on Jan 31 and was down by about 16% on Monday, March 9th alone.
  • The S&P 500 has declined by 17.5% since the WHO declared a global emergency on Jan 31 and declined by about 7.5% on Monday, March 9.

Exxon Stock vs. S&P 500 Performance 2007-08 Financial Crisis

  • XOM stock declined from levels of around $63 in October 2007 (pre-crisis peak) to levels of around $47 in March 2009 (as the markets bottomed out) and recovered marginally to levels of about $48 in early 2010.
  • Through the crisis, XOM stock declined by as much as 25% from its approximate pre-crisis peak. This was relatively better compared to the S&P which fell by as much as 50%.
  • However, Exxon stock was slow to rebound post the crisis, as it only rose by 2.2% between March 2009 and January 2010. In comparison, the S&P rose by 48% in the same period.

For the timeline of the 2007-8 crisis and more detailed charts, view our dashboard analysis 2007-08 vs. 2020 Crisis Comparison: How Did Exxon Mobil Stock Fare Compared with S&P 500?

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