After a rough couple of months in August and September, the S&P 500 booked a stellar month of October. The index closed out the month up a strong 8.3 percent.
However, not all index members were invited to the October party. Here’s a list of the five worst-performing S&P 500 stocks in the past month.
5. Tenet Healthcare Corp THC 4.67%
The healthcare sector was one of the biggest laggards in October, and Tenet Healthcare was hit hard, falling to new 52-week lows. An October 22 downgrade by Mizuho from Buy to Neutral certainly didn’t help the stock’s cause, and neither did the accompanying price target reduction from $68 to $30. The stock finished the month down 13.7 percent.
4. Western Digital Corp WDC 0.99%
Western Digital shareholders are apparently not buying that the company’s October announcement that it is acquiring SanDisk Corp SNDK 0.09% is what the company needs to put it on the right track. Management is anticipating half a billion dollars in synergies should the deal pass regulatory scrutiny, but Western Digital’s share price fell by 14.2 percent in October.
3. Endo International plc ENDP 0.33%
The heat from controversies surrounding drug pricing, suppliers, sales channels and potential new regulations has hit…
Click here to continue reading
Want to learn more about how to profit off the stock market? Or maybe you just want to be able to look sophisticated in front of your coworkers when they ask you what you are reading on your Kindle, and you’d prefer to tell them “Oh, I’m just reading a book about stock market analysis,” rather than the usual “Oh, I’m just looking at pics of my ex-girlfriend on Facebook.” For these reasons and more, check out my book, Beating Wall Street with Common Sense. I don’t have a degree in finance; I have a degree in neuroscience. You don’t have to predict what stocks will do if you can predict what traders will do and be one step ahead of them. I made a 400% return in the stock market over five years using only basic principles of psychology and common sense. Beating Wall Street with Common Sense is now available on Amazon, and tradingcommonsense.com is always available on your local internet!
