Nvidia Has Soared, But These 8 Stocks Are Far From Magnificent – Investor's Business Daily

tesla (TSLA) is not only the worst performer on the Magnificent Seven in 2024, but also the biggest loser on the S&P 500 Index. Although the benchmark index hit a record high by Friday morning, eight stocks in the S&P 500 were down more than 20%.

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In addition to Tesla stock, charter communications (CHTR), Market Access Holdings (MKTX), paramount global (para), humana (ham), archer daniels midland (ADM), boeing (BA) and warner bros discovery (WBD).

vice versa, Nvidia (NVDA) XXX%%

S&P 500 Worst Performer

tesla stock

Tesla stock was the worst performer in the S&P 500 index, dropping 29.4% through March 8. This includes a 13.5% plunge last week, with TSLA stock retreating from its 10-week line. Stock prices hit a 10-month low.

Tesla’s profits are expected to decline 23% in 2023 and again in 2024.

Even with continued incentives, Tesla’s first-quarter deliveries are likely to be well below the record pace of the fourth quarter and consensus estimates. As Tesla struggles to make the switch to new sedans, the company faces weak demand in key markets and limited supply of Model 3s in the United States.

U.S. Model 3 production should improve, but it’s not clear whether Tesla’s demand trends will change significantly through 2025.

charter communications stock

Charter Communications stock has plummeted 27% year to date in 2024, hitting a five-year low last week. The company’s stock price fell sharply in early February due to poor business performance and a decline in broadband subscribers.

market access stocks

MarketAxess stock had fallen 27% through March 8, and just last week avoided a five-year low. Stocks in the online bond market suffered most of their losses after the fourth quarter results.

Earnings have been uneven, varying from modest gains and losses year-over-year.

paramount stock

Paramount stock has plummeted 26.5% since the beginning of the year, hitting a 14-year low on March 5th. Netflix (NFLX) and disney (DIS) is showing strength, while Paramount and Warner Bros. Discovery have struggled to show growth in the streaming media landscape. Talk of a merger involving Paramount and Warner Bros. Discovery has waxed and waned in recent months, but nothing has come of it.

humana stock

Humana stock fell 25.9% in 2024. The health insurance company’s stock price fell on January 18 after it cut its 2023 profit forecast due to higher costs, but then plunged a few days later after receiving a dire outlook for 2024. HUM stock is at its worst level in about four years.

archer daniels midland stock

Archer Daniels Midland’s stock price fell 24.1% through March 11th. This includes a 24.2% plunge on Jan. 22 as ADM placed its CFO on leave amid an accounting investigation. Major agricultural products companies also lowered their forecasts for 2023.

Boeing stock

Boeing stock fell 23.85% in 2024. BA stock hit a four-month low at Friday’s close.

In January, a part of the 737 Max’s fuselage came off during flight. alaska airlines (alk) flights caused most of the losses. This includes further signs of poor assembly and maintenance by aerospace giant Dow Jones and his major suppliers. Spirit Aero Systems (SPR), and regulatory oversight has also increased.

warner bros discovery stock

Warner Bros. Discovery stock has fallen 23.3% since the beginning of the year, hitting a 15-year low last week. The media giant has suffered heavy losses over the past two years, but is expected to return to profitability in the second half of 2024.

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