The stock market has recovered but not every stock has returned to its previous highs. A stock that is approaching its 52-week high is DBS Group Holdings Ltd (SGX: D05). One year ago, DBS was trading around S$17.90 as the rapid spread of the coronavirus caused stock markets around the world to crash. On 17 March 2021, DBS closed at S$28.02, for a gain of 56.5% within a year. Investors who invested S$10,000 at close to its 52-week low would have seen their investment grow to S$15,650. In addition to the capital gains, investors would also have received around S$385 in dividends. Added to the current market value of the investment yields a total of around S$16,000 for a 60% total return on your original investment of S$10,000. So, these are the gains that DBS Group has produced. But were they justified? Let’s take a look back at 2020 and what has transpired since then....