SO drawdown: 2.4% below the all-time high
Southern Company (The) (SO) is 2.4% below its all-time high, set Oct 15, 2025 (as of market close, Jul 24, 2026). The chart shows every day as a percentage of the highest level reached up to that point: 100% means a fresh record, everything below is a drawdown. "All-time" means since our price data begins (1981).
- Below all-time high
- −2.4%
- 97.6% of ATH
- All-time high
- $99.72
- Oct 15, 2025
- Time below the high
- 9 mo
- since Oct 15, 2025
- Worst-ever drawdown
- −39.0%
- Mar 23, 2020
- Longest underwater
- 3.4 yrs
- between all-time highs
- Today's level first reached
- Oct 10, 2025
- 9 mo ago
- Last time this deep
- Sep 22, 2025
- in a previous episode
% of all-time high since 1981#
The classic underwater chart (drawdown curve), drawn as % of the all-time high — 100% is a fresh record, everything below it is time spent underwater.
% of all-time high on the price basis — the all-time high considers the full history of SO, including years before the visible window. Dividends are excluded on this basis (the convention headlines use).
The deepest drawdowns on record#
Every decline of 15% or more from an all-time high (price basis), deepest first.
| Peak | Trough | Depth | Peak → trough | Recovered by | Underwater |
|---|---|---|---|---|---|
| Jan 30, 2020 | Mar 23, 2020 | −39.0% | 53 days | Mar 25, 2022 | 2.1 yrs |
| Jan 22, 1987 | Oct 19, 1987 | −37.1% | 9 mo | Dec 12, 1989 | 2.9 yrs |
| Oct 5, 1998 | Mar 14, 2000 | −34.5% | 17 mo | Sep 7, 2000 | 1.9 yrs |
| Jan 9, 2008 | Mar 12, 2009 | −33.8% | 14 mo | May 17, 2011 | 3.4 yrs |
| Oct 20, 1993 | Sep 12, 1994 | −25.3% | 11 mo | Sep 28, 1995 | 1.9 yrs |
| Aug 19, 2022 | Oct 12, 2022 | −23.3% | 54 days | Jun 3, 2024 | 1.8 yrs |
| Dec 15, 1989 | Aug 28, 1990 | −22.4% | 8 mo | Sep 27, 1991 | 1.8 yrs |
| Feb 13, 1996 | Apr 24, 1997 | −22.3% | 14 mo | Dec 29, 1997 | 1.9 yrs |
Price basis (no dividends) — the convention crash histories use. With dividends reinvested, recoveries arrive years earlier; switch the basis on the chart above to see it.
Drawdown vs what came next#
One dot per month since 1981: how far SO stood below its all-time high, and the total return over the following 1, 5 and 10 years.
Read this with survivorship bias in mind: SO is on this chart precisely because it survived — the many stocks that fell this far and never recovered (or were delisted) aren't on anyone's chart, so past recoveries here say little about the odds ahead. Monthly windows also overlap heavily (they are not independent samples). Not investment advice.
FAQ
- How far is SO from its all-time high?
- SO is currently 2.4% below its all-time high, set Oct 15, 2025 (as of market close, Jul 24, 2026). Prices only, the convention headlines use; with dividends reinvested the gap is usually smaller.
- What was the biggest SO drawdown ever?
- The deepest decline on record in our data (since 1981) took the stock 39.0% below its prior high, bottoming Mar 23, 2020. The table on this page lists every major episode with its peak, trough and recovery date.
Methodology & related#
Daily closing prices since 1981 (split-adjusted). "All-time" means since our price data begins — SO may have traded earlier. For a 150-year index drawdown record see the S&P 500 drawdown page. The price basis excludes dividends; the total-return basis reinvests them; the real basis additionally deflates by CPI. See also returns by year, 150 years of returns and the rolling-returns explorer. Past performance does not predict future returns; not investment advice.