Winter may be on its way out, but Wall Street is still acting especially cool toward a handful of U.S.-listed companies. Among them are some familiar names, but there are also a few surprises, especially at the bottom of pile. Rounded up here are the worst-performing S&P 500 stocks of 2024 — so far. And check out the best stocks here.
You would think that the Biden administration plan to expand broadband internet access would be good news for a company like Charter Communications, which sells broadband internet. But the entrance of wireless companies into the market has dampened optimism in the sector. The CEO of Charter may be buying the dip in the company’s stock, but not many others are.
Insurance companies are basically giant stockpiles of money that try to turn policyholder premiums into profits. When more people make claims and insurance companies have to pay for services and procedures and medications, that’s less money for them to invest and return to shareholders and lavish on CEOs. More people with government-subsidized Medicare Advantage plans started to make use of those plans, and Humana’s stock is suffering for it.
Lots of people still watch TV these days, but fewer of them are using cable to do so. But streaming isn’t as profitable as so-called “linear” TV that you might get through a cable or satellite operator. That’s not great for Paramount. Until recently, it had been flirting with letting Warner Bros. Discovery deal with figuring out the solution to that particular problem, but those talks fell apart. The company is still in the market to sell itself, but the identity of its savior is one of those mysteries that Wall Street doesn’t like.
MarketAxess is a bond trading platform. Lots of people use it, especially for high-yield debt (so-called “junk bonds”). But fewer people are using it for so-called “investment-grade” bonds. Its losses in market share are showing up in its share price.
Warner Bros. Discovery is facing the same woes as Paramount, and the failure of merger talks between the two is also creating similar stock woes for similar reasons.
Tesla’s current difficulties are well known by now: Less demand, more competition, production difficulties. But at least it’s not the worst stock in the S&P 500 anymore.
Boeing’s having a really bad year since that Alaska Airlines door plug blowout aboard a 737 Max 9. One more bit of bad news: Its stock is the worst-performing in the S&P 500.
