Market Overview

5 Stocks Cut In Half In 2016

5 Stocks Cut In Half In 2016
Related VRX
Attention Biotech Investors: February PDUFA Catalysts Come Calling
42 Biggest Movers From Yesterday
Stocks To Watch: Investors Recharge After Soothing Fedspeak (Seeking Alpha)
Related FIT
When Open Source Info On Fitbit, Twitter Jeopardize US Security
Stifel's Bearish Stance On Fitbit No Longer Applies, But Concerns Remain
Stocks To Watch: Investors Recharge After Soothing Fedspeak (Seeking Alpha)

After a disastrous start to the year, the S&P 500 has bounced back strongly. Now that the first half of 2016 has come and gone, the January sell-off is a distant memory for most investors, and the SPDR S&P 500 ETF Trust (NYSE: SPY) is up a solid 2.1 percent year-to-date.

Unfortunately, not every stock got an invitation to the party. Here’s a look at five stocks that have lost more than half their value so far in 2016.

1. Ionis Pharmaceuticals Inc (NASDAQ: IONS)

Ionis shares plunged 35 percent in a single morning in May after GlaxoSmithKline plc (ADR) (NYSE: GSK) declined to initiate a Phase III study of the IONIS-TTR drug program. Ionis’ stock is now down 51.3 percent on the year.

2. SolarCity Corp (NASDAQ: SCTY)

Not even a buyout bid by Tesla Motors Inc (NASDAQ: TSLA) could salvage a disastrous first half of 2016 for SolarCity. After a lackluster 0.7 percent decline in 2015, the stock is down 53.5 percent in 2016.

Related Link: Just How 'Safe' Are U.S. Stocks Post-Brexit?

3. Fitbit Inc (NYSE: FIT)

Fitbit continues to struggle to differentiate its products in an increasingly competitive wearable devices market. So far this year, the stock has fallen 57.8 percent.

4. Endo International plc – Ordinary Shares (NASDAQ: ENDP)

Endo’s stock tanked more than 25 percent following the company’s severe outlook cut in May. Year-to-date, Endo is now down 72.2 percent.

5. Valeant Pharmaceuticals Intl Inc (NYSE: VRX)

Valeant’s struggles with accusations of accounting scandal, price gouging and a questionable business model have been highly-publicized. It seems as though very few investors outside of Bill Ackman are willing to bet on a Valeant recovery. The stock is down 79.8 percent in 2016.

Disclosure: The author holds no position in the stocks mentioned.

Posted-In: Bill AckmanBiotech Education Health Care Top Stories Movers Trading Ideas General Best of Benzinga


Related Articles (FIT + ENDP)

View Comments and Join the Discussion!