CyberOptics Corporation is the Best-performing stock in Minnesota 2016. Shares more than Tripled.
A recent article published in the Star Tribune announced that the stocks of Minnesota companies performed better than the broader market in 2016. This is a turnaround from 2015 when most were a disappointment for investors.
Major U.S. stock indexes, which ended flat in 2015 and were in negative territory for the first 10 weeks of this year, closed 2016 with solid gains. The Dow Jones industrials finished up 13.4 percent, its best performance since 2013. The broader-market S&P 500 index finished up 9.5 percent and tech-heavy Nasdaq was up 7.5 percent.
Shares in about 50 of the approximately 80 publicly traded companies based in Minnesota finished 2016 at a higher price than they did a year ago. Only 20 Minnesota companies saw stock price gains for the full year of 2015.
The best performing stock in the state this year was CyberOptics Corp. Its shares more than tripled due to (among other factors) the introduction of the CyberGage360 3D scanning device, which makes three-dimensional scans of physical objects at a faster speed than laser-based scanners.
The company is well poised for growth in the coming years.