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.
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Author
Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
