Markets have soared in 2024, but some stocks missed the memo. Meet the biggest losers
Walgreens looks likely to take the crown as the S&P 500’s worst-performing stock.
It’s been quite a year for the stock market.
At the time of writing, America’s flagship S&P 500 Index is currently on track for a more than 28% return in 2024, with AI hype driving tech — and some non-tech — stocks higher. But not every company is thriving. In fact, more than 110 stocks in the S&P 500 Index are down this year.
So, which are the 10 worst performers? Here’s the list:
Losing out
Some of these stocks, like Biogen, Qorvo, Enphase Energy, and Celanese, aren’t particularly well known — but many of the others on the biggest-loser list are household names.
Boeing: continues to struggle to bounce back from a series of safety failures and labor strife, as European rival Airbus chases its own ambitious targets for aircraft deliveries.
Estée Lauder: the iconic beauty and cosmetics company has seen sales slip this year, leading management to slash its all-important dividend — which sent the stock crashing more than 20% in a single day in October.
Dollar Tree: a stock you might expect to have done well with inflation-weary consumers looking for bargains has also struggled this year, with consumers choosing to shop elsewhere and the company losing its CEO a month ago.
Moderna: one of the most visible companies during the pandemic, the Massachusetts-based company has struggled to move on, spending billions on R&D in search of its next product with little to show for it so far, with revenue slumping sharply since 2021.
Intel: at one time the world’s largest producer of computer chips, Intel is another company you’d not necessarily expect to find on this list, but the chipmaker has missed the AI boom many of its peers have capitalized on.
Walgreens: battling a huge debt load, a botched acquisition of primary provider VillageMD, and online competition, the retailer has been deeply out of favor with investors this year, dropping 64%.
