[ad_1]
Some stocks on Wall Street have been hit hard throughout the summer. Although the tech-heavy Nasdaq Composite and the Dow Jones Industrial Average have notched gains since May, these stocks within the Russell 1000 haven’t been as lucky. CNBC scanned FactSet data to screen for the Russell’s hardest hit stocks from Memorial Day through Wednesday’s 4:30 p.m. ET market close. The list compiles a given stock’s decline as well as its average analyst forecast and the implied upside or downside from its target price. Hawaiian Electric has gained notoriety in recent weeks after wildfires ravaged the historic town of Lahaina in Maui. Questions are being asked about whether the state’s largest power utility neglected to address potential catastrophic ramifications stemming from a delay in updating its electric grid, according to a lawsuit . HE 3M mountain Hawaiian Electric stock from Memorial Day. The stock has suffered as a result, with a decline of more than 66% from Memorial Day through Wednesday. None of the analysts polled by FactSet rate Hawaiian Electric stock as a buy, and their average forecasts predict a further 24% decline. Meme stock AMC , meanwhile, has seen its class A shares slip 52% from the Memorial Day holiday. Analysts have been similarly bearish on the stock, with none of those surveyed by FactSet rating AMC as a buy. AMC 3M mountain AMC stock has slipped 52% from the end of May. In fact, average analyst price targets compiled by FactSet predict more than 90% downside from the stock’s current trading levels. Novocure stock has seen a 59% slump since Memorial Day, making it the second-biggest losing stock in the Russell index over the three-month period, behind Hawaiian Electric. NVCR 3M mountain Novocure stock has declined 59% from Memorial Day through Wednesday’s market close. However, nearly 67% of analysts polled by FactSet still rate Novocure stock as a buy, and expect shares to climb 102% from current trading levels. Apellis Pharmaceuticals is in a similar boat, with the stock slipping 54% from Memorial Day while 60% of analysts polled by FactSet still rate shares as a buy. Apellis shares had fallen after safety issues surfaced for its Syfovre injection. On Wednesday, the company identified a potential issue with the needle being used. The update prompted a jump in Apellis’ stock, but the investigation is ongoing.
[ad_2]
