2024 has generally been an exceptionally good year for stocks. THE S&P500 The index hit another all-time high on Wednesday, and it’s up 24% year to date.
But as in any market, there are laggards. Here’s a look at the five worst-performing S&P 500 stocks so far in 2024. Are any of these struggling companies worth buying at such levels?
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The bottom five are (in order from sharpest to narrowest price drop): Walgreens Boot Alliance (NASDAQ:WBA), Estee Lauder (NYSE:EL), Dollar tree (NASDAQ:DLTR), Intel (NASDAQ:INTC)And Modern (NASDAQ: MRNA). Here is the dashboard.
|
Action |
Sector |
Price drop since the start of the year |
|---|---|---|
|
Walgreens Boot Alliance |
Health care |
64.6% |
|
Estee Lauder |
Beauty products |
56.7% |
|
Dollar tree |
Retail |
56.1% |
|
Intel |
Technology |
50.3% |
|
Modern |
Health care |
47.8% |
Data source: Slickcharts.com. Note: Year-to-date price decline as of market close on November 6.
The only repeat in the sector column is healthcare, indicating that these heartbreaking falls are not sector-specific (many healthcare segments are actually thriving these days). What we have here is a group of brilliant alumni who are currently trying to deal with a lot of pressure on their businesses.
Intel, once the leader in PC processors, has been hit by declining PC sales and continues to stumble in its industry. trying to reinvent yourself. Walgreens and Dollar Tree still run many brick-and-mortar retail operations in an era dominated by online shopping. The effect of inflation on consumer spending has also affected the latter company.
As for others, confidence in Estée Lauder has been bruised by a lingering succession question, not to mention an aggressive dividend cut. Meanwhile, investors are growing impatient for Moderna’s next triumph after its Spikevax became a must-have vaccine at the height of the COVID-19 pandemic.
Among the quintet, the only stock that I think could be a good deal now is Moderna, which continues to develop vaccines and drugs with the very promising mRNA-based technology fundamental to Spikevax. Biotechnology it will take time and resources to concoct new products, and I believe Moderna will design more advanced drugs and reward investors patient enough to wait.
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