The old Wall Street adage “sell in May and go away” didn’t simply come about because it rhymed. The summer months are typically weak for stocks.
Summer 2016 officially kicked off on Monday, and the S&P 500 came out of the gates up more than 1 percent to start the week. If you’ve been wondering what some of the hottest summertime stocks to own have been in recent years, here’s a look at some summer market scorchers.
Celgene Corporation CELG 2.45%
In the past five summers, Celgene has averaged an 11.9 percent gain. So far this year, the stock has taken a 16.6 percent hit, so it could be poised for a turnaround.
Ulta Salon, Cosmetics, & Fragrance, Inc. ULTA 0.11%
With the stock up 320 percent in the past five years, Ulta has been a top performer no matter what season it is. Summer is no exception: Ulta has averaged a 12.8 percent summertime gain in the past five years.
L Brands Inc LB 0.55%
Apparel names have been some of the hottest stocks in the market in recent years. L Brands, for example, has averaged a 13.0 percent gain during the past five summers.
Under Armour Inc UA 0.66%
Speaking of retailers that thrive in the summer sun, Under Armour has averaged a 15.8 percent gain during the past five summers. Like Ulta, Under Armour has spent the majority of the past five years outperforming, but the stock is down 5.5 percent so far in 2016.
Regeneron Pharmaceuticals Inc REGN 2.13%
Regeneron has been…
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