Almost two weeks ago, investors were afraid by the financial consequences of Hurricane Dorian on Florida-exposed insurers like Universal Holding (UVE). Some investors ran away from these stocks, and their stock prices dropped accordingly. As the potential damages caused by Dorian were lower than expected, investors were partially reassured, UVE's stock price surging from about $24 to almost $29 or a 19% gain in slightly more than one week.
Nonetheless, Universal's stock return was negative at -24% on a year-to-date basis, as investors and analysts expected undoubtedly more from the