The stock market is a volatile place. Sometimes, winners emerge; other times, losers. It all depends on what’s happening in the news and the effect it has on investor sentiment. With that in mind, here are some great financial losers that you might want to think twice about before buying.
While gains were reported across the board on Friday, artificial intelligence-powered lending platform Upstart (NASDAQ:UPST) -54.6% was the biggest loser (market cap of $2B+) in the week ended May 13. Several analysts downgraded the stock after the company’s 2022 guidance disappointed investors.
Cryptocurrency lender Silvergate Capital (NYSE:SI) -32% suffered heavy losses as bitcoin (BTC-USD) -13% and other major tokens slid following investor uncertainty;
The stock price of financial services company Jackson Financial (NYSE:JXN) -23.4% dropped after its Q1 earnings missed Wall Street expectations;
-14.3% of Signature Bank (SBNY) dropped;
Financial services platform Lufax (+8.2%) in China;
Following its Q1 results, asset manager TPG (TPG) grew by 6.9%;
Federal Hermes (FHI) grew by 6.8%.
Pr(May 13) Consumer sentiment slid below expectations in May, and inflation remained near a 40-year high.
After a further decline in net investment income for the first quarter, Brighthouse Financial (BHF) declined -12.1%.
The top five financial performers for the first quarter were:
After selling NSM Insurance to Carlyle (CG), White Mountains Insurance (NYSE:WTM) gained 10.4%;
With ING Group (ING) +8.8% going ex-dividend on Friday, stock prices rose.
Via this site.