completed a remarkable comeback on Monday, turning positive once again for the year after the spreading pandemic and its economic fallout sent stocks plunging in March.
The index has now rallied more than 47% since its March 23 intraday low and is within 5% of its high from Feb. 19. According to Wall Street analysts, this rally may have already gone too far for many of the stocks that make up the index. Of the 13 stocks that have seen the biggest increase since March 23, 11 had already surpassed their average price target as of Monday, according to FactSet.
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Pro Analysts? Buhahaha! 😂