Market Overview

Sell In May And Go Away? Doing So With These Stocks Was A Mistake

Sell In May And Go Away? Doing So With These Stocks Was A Mistake

Investors who took the advice of the popular slogan "sell in May and go away" may now be wishing they can go back in time and hold on to their positions, especially those that belonged to a small handful of names that soared 50 percent since May, Bloomberg reported.

The hottest S&P 500 stock since May is NRG Energy Inc (NYSE: NRG). The integrated power company saw its stock soar 54 percent after activist investors Paul Singer and Charles John Wilder detailed a game-plan to overhaul and simplify the company's business.

Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN) saw its stock gain 46 percent since May after the company appointed an industry expert and veteran Paul Clancy to serve as chief financial officer. The appointment was seen as a necessary step to help regain investor concerns.

Moving on, Signet Jewelers Ltd. (NYSE: SIG) has seen its stock see-saw since May but it is nevertheless higher by 32 percent even though it remains notably lower than its 52-week high of $101.46.

The bio-pharmaceutical giant Gilead Sciences, Inc. (NASDAQ: GILD)'s strong performance in 2017 continued since May as the stock has gained 30 percent. Part of the gains can be attributed to the company's recent agreement to acquire Kite Pharma Inc (NASDAQ: KITE).

Finally, Ralph Lauren Corp (NYSE: RL)'s 30 percent return since May has some investors wondering if the once-struggling fashion icon is making a major comeback.

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Posted-In: Charles John Wilder Comeback Stocks Paul ClancyTechnicals Top Stories Media Trading Ideas General Best of Benzinga


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