The Big Plunge: 5 Stocks That Had a Horrible April
Investors were taken on a pretty wild ride in April. Earnings for major companies came in all over the map, causing fairly dramatic price swings not just in individual stocks but for the overall market, as well. The S&P 500, for example, swung from 1,890.9 on April 2 to 1,815.69 on April 11, only to rebound to 1,883.95 on April 30. The index closed the month up about 1.4 percent. For its part, the Dow Jones Industrial Average managed to gain about 1.6 percent for the month. The Nasdaq, weighed down by disappointing earnings at some major components, was down about 1 percent for the period.
Despite the mild performance, more investors are optimistic than pessimistic about the market. According to the latest AAII Sentiment Survey, bullish sentiment among investors increased by 7.3 percentage points at the end of April, to 34.5 percent. This is the biggest increase since February. However, optimism is still below its historical average of 39 percent and has been for six consecutive weeks. Bearish sentiment, meanwhile, fell 8.2 percentage points to 26 percent, below its historic average of 30.5 percent.
But the point of an index is to aggregate, and the headline number masks major swings in individual components. Some companies performed exceptionally well in April – Apple (NASDAQ:AAPL) stock climbed more than 10 percent — while others did exceptionally poorly. Many tech companies in particular faced selling pressure as investors and traders grew slightly more suspicious of high valuations.
Here’s a look at a few major companies that performed poorly in April.