The Pantry traded flat from mid-1999 until mid-2001 before the ensuing recession cut its shares to an all-time low below $2/share in October of 2002. But Pantry?s shares would heat up from 2003 to 2006, surging towards an all-time high above $67/share in April 2006. Valuation would eventually catch up to the Pantry, retracing the stock back into the $20/share range, and the onset of the 2008-2009 recession slashed shares of the convenience store to $10 before stabilizing back into its pre-recession trading range.
Consumer stocks ramped up during April, riding a wave of improving consumer sentiment and the bank-led rally. The Pantry closed at $17.61 on March 31st and $23.62 on April 30th, a 34% surge during the month.
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