Investors who bought stocks during the COVID-19 market crash in 2020 have generally experienced some big gains in the past two years. But there is no question some big-name stocks performed better than others since the pandemic bottom.
United's Bumpy Ride: One company that has been a solid investment in the past two years has been United Airlines Holdings Inc (NASDAQ:UAL).
American and other travel stocks experienced a near worst-case scenario when the COVID-19 breakout occurred in early 2020. Travel demand fell to nearly 0% during the worst of the pandemic.
At the beginning of 2020, United shares were trading at around $90. By the beginning of March, the stock had dropped to around $61 after news of the virus spreading in China prompted concerns about a U.S. pandemic. The stock ultimately bottomed at $17.80 on March 18, five days before the S&P 500 hit its pandemic low.
On March 27, airlines received $25 billion in federal bailouts. On that day, United shares closed back above $32.
Airlines got another $15 billion in government bailouts in December. By that time, vaccine optimism had boosted United’s share price back up to above $44.
Related Link: If You Invested $1,000 In The GLD Gold ETF At Its Pandemic Low, Here's How Much You'd Have Now
United In 2022, Beyond: United eventually made it as high as $63.70 in March 2021 before pulling back to $42.85 today.
Still, investors who bought United Airlines stock on the day it hit its pandemic low and held on have generated a nice return on their investment. In fact, $1,000 in United Airlines stock bought on March 18, 2020, would be worth about $2,020 today.
Looking ahead, analysts are expecting United Airlines stock to gain altitude in the next 12 months. The average price target among the 20 analysts covering the stock is $54, suggesting 26.1% upside from current levels.
