Introduction
ExxonMobil is a global oil and gas giant that is one of the largest companies in the world. It has a long and storied history, and its stock price has been subject to the ebbs and flows of the petroleum industry. In this article, we will take a look at the ExxonMobil stock price history and discuss where it's been and where it's going in the future.
The Early Years
ExxonMobil was formed in November of 1999, when Exxon and Mobil merged in one of the largest corporate mergers in history. In the years following the merger, the stock price of ExxonMobil climbed steadily, reaching an all-time high of $93.35 per share in July of 2008. This marked a nearly 700% increase in the stock price since the merger.
The Recession
The global financial crisis that began in 2008 had a profound effect on the stock price of ExxonMobil. By the end of 2008, the stock price had dropped to $41.91 per share. This represented a 55% drop from the all-time high of the previous year. The stock price would remain relatively flat for the next two years, as the global economy struggled to recover from the recession.
The Recent Years
In the last few years, the stock price of ExxonMobil has been on the rise once again. In 2017, the stock price reached a new all-time high of $92.57, surpassing its previous high from 2008. The stock price has remained relatively flat since then, trading in a range between $70 and $80 per share.
The Future of ExxonMobil
The future of ExxonMobil is uncertain, as the company faces several headwinds in the coming years. In particular, the company faces competition from renewable energy sources, as well as the potential for government regulations to limit the amount of oil and gas it can produce. In addition, the company is faced with the challenge of making its operations more efficient and cost-effective in order to remain competitive in the global market.
Conclusion
ExxonMobil has had a long and storied history, and its stock price has been subject to the ebbs and flows of the petroleum industry. In this article, we have taken a look at the ExxonMobil stock price history and discussed where it's been and where it's going in the future. Despite the challenges that the company faces, it remains one of the largest and most successful companies in the world, and its stock price is likely to remain a key indicator of its performance in the years to come.