Investing in Chattanooga businesses paid off handsomely for most, but not all, investors during 2017.
The overall market value of Chattanooga's publicly traded stocks jumped by more than $7 billion during the past year. But among the seven stock-traded companies headquartered in the Chattanooga area, share prices dropped for three during 2017.
The biggest gainer in 2017 among local companies was Covenant Transport, the Chattanooga-based trucking company that hauled in more business as the economy improved. Shares of Covenant jumped nearly 49 percent in the past year.
At the other end of the investment scale, CBL Properties suffered the biggest percentage drop among local companies in 2017 as investors continued to punish share prices of shopping center and retail developers, hurt by a record number of store closings in the past year. CBL's common stock price plunged by half during 2017, although the company's double-digit dividend payments eased some of those investment losses.
Local stock in 2017
Winners:* Covenant Transport rose 48.6 percent to close at 28.73* Mohawk Industries rose by 38.4 percent to close at $275.90* Unum Group rose 24.9 percent to close at $54.89* Dixie Group rose by 6.9 percent to close at $385Losers:* Miller Industries fell by 2.5 percent to close at $25.80* Astec Industries fell by 13.3 percent to close at $58.50* CBL Properties fell by 50.8 percent to close at $5.66
The biggest dollar gains were made in 2017 by the region's biggest companies - Mohawk Industries in Calhoun, Ga., and Unum Group in Chattanooga.
Shares of Mohawk, the world's biggest floorcovering manufacturer, jumped by more than 38 percent to new highs during the past year, adding more than $5 billion of market value to the company. Mohawk benefited by more home and office construction and remodeling and its global growth in hard surfaces.
Unum, the world's biggest disability insurer and a major employee benefit company, enjoyed a nearly 25 percent gain in its stock price this year because of more employment, higher interest rates for its investment portfolio and streamlined operations.