After a strong 8.3 percent gain in the month of October, the S&P 500 traded mostly flat throughout the month of November. After a mid-month dip as low as 2019, the S&P closed out the month at around the 2080 level.
The month brought some huge stock moves in both directions, as Q3 earnings reports and news of M&A deals poured in throughout November. Here’s a list of the five worst performing S&P 500 stocks in the past month.
5. Macy’s, Inc. M 1.01%
In a month that has historically been associated positively with the retail giant, Macy’s shares paraded decidedly lower this November. On November 11, Macy’s cut its full-year sales and profit forecasts, sending shares falling 15 percent. The stock finished the month down 21.3 percent.
4. GameStop Corp. GME 3.4%
A report by NPD Group released on November 13 disclosed a 3.0 percent annual decline in October software sales, news that sent GameStop’s stock plummeting 15 percent. An earnings miss and analyst downgrades compounded the problem, and GameStop finished the month down 23.3 percent.
3. Chesapeake Energy Corporation CHK 12.95%
Chesapeake reported…
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