Published on 4 Jan 2024 on Motley Fool via Yahoo Finance
Trust the Process -- This Stock Dropped by Over 40% in 2023, but Its Business Is Doing Quite Well
Boston Omaha Corporation (NYSE: BOC) was one of the worst-performing stocks in the market in 2023. I won't sugarcoat it. While the S&P 500 index generated a 26% total return for the year, Boston Omaha's stock fell by more than 40%.
To be sure, the stock didn't drop for no reason. There are some parts of the business that are sensitive to interest rates, and the company's billboard business depends on advertiser demand and strong economic conditions, just to name a couple of examples. But the stock is now trading for a discount to book value, a level it didn't even reach in the depths of the COVID-19 crash.