During the first half of 2024, companies such as Nvidia and Super Micro Computer experienced historic growth, while others struggled and faced pricing pressures even as the S&P 500 and Nasdaq hit new highs.
Let’s take a look at some of the worst-performing stocks on the S&P 500 so far this year, as per FactSet data. And check out the best-performing stocks here.
Despite meeting revenue and guidance expectations on Wall Street, the shares of Dayforce, a global human capital management software company, were down this year. The earnings per share (EPS) were somewhat in line with analysts’ expectations at $0.43, compared to the analysts’ forecast of $0.42. However, the company’s overall performance in the latest quarter was weaker.
The stock is down over 25% so far this year.
Despite making it to the Fortune 500 top companies list, CVS Health has stock struggled so far this year. Due to increased competition from Amazon’s same-day drug delivery, the company’s stock has underperformed. The stock has dropped more than 25% this year and 13% from this time last year.
Etsy, an online marketplace, has struggled to maintain sales as it faces growing competition from fast-fashion brands such as Temu and Shein. Currently, Etsy’s marketplace connects 9 million independent sellers with 91.6 million buyers, an increase of 1.6% year over year. In terms of delivery service, the company is facing great challenges from large e-commerce companies like Amazon. That’s also affected the stock price, with a decrease of 27% this year and 32% over the past year.
Globe Life, one of the largest insurance providers in Texas, has faced challenges this year due to Fuzzy Panda Research’s allegations of potential fraud. Though the company has denied the allegations, they have affected the stock price, leading to a drop of over 50% in one day.
The stock has declined by over 32% this year and 23% in the past year.
Albemarle, a leading lithium producer, faced pressure due to a more than 40% collapse in global lithium prices since last year. The drop in the price of lithium can be attributed to several factors, including slowing electric vehicle sales and an oversupply of lithium. This affected Albemarle, which planned to reopen a Kings Mountain mine in North Carolina as early as late 2026, but has faced opposition. The company’s stock price has dropped by more than 32% this year and 56% in the past year.
Lululemon Athletica struggled to reach U.S. consumers this year and had to close its distribution centers across the country.
The Canadian apparel company modestly beat Wall Street’s expectations in its latest earnings report. However, comfort and style may not be enough to persuade cash-strapped consumers in the U.S. who are dealing with stubborn inflation and saving money for essential goods. Like Nike, Lululemon is making plans for the 2024 Summer Paris Olympics and Paralympic Games.
The company’s stock price has decreased by over 40% this year and is down 20% from the previous year.
Tim Wentworth, CEO of Walgreens Boots Alliance, previously claimed that the company would outperform Amazon by offering a more personal touch to communities and neighborhoods. However, the pharmacy and retailing company now intends to close a “significant” number of underperforming stores in order to tackle its own economic challenges. Those challenges are on the rise, with Amazon expanding its same-day pharmacy delivery service to New York and the greater Los Angeles area.
Back in March, Walgreens recorded a quarterly net loss of $5.9 billion, due to the sale of VillageMD. During that time, the company said it planned to close 160 of the VillageMD clinics.
Walgreens’s stock price has dropped by over 54% this year and 58% in the past year.
