Tesla and Other S&P 500 Underperformers Lag Behind in 2024

In an unexpected twist of market performance, TSLA, synonymous with innovation and market disruption, has not only become the laggard among the esteemed Magnificent Seven of the S&P 500 but has also emerged as the index's most prominent decliner. This dubious distinction comes at a time when the S&P 500 index itself recently scaled new heights, hitting record peaks just last Friday morning. Despite this overall market feat, a handful of S&P 500 stocks have experienced substantial losses, each tumbling more than 20%.

Tesla's Troubles

TSLA is experiencing turbulence as it trails behind the pack. Once a powerhouse in the electric vehicle domain, commanding significant chunks of the plug-in and battery electric car markets, it now appears to be grappling with challenges that have negatively impacted its stock value.

The S&P 500 Underperformers

Other notable companies joining Tesla on this list of underperformers include a diverse set of industries, each facing their own unique setbacks. Among these, we find Alaska Air Group, the Seattle-based airline behemoth, under the ticker ALK; NFLX, the Californian streaming giant that revolutionized entertainment; and HUM, the Kentucky-headquartered health insurance titan.

The roster extends to SPR, Kansas's major player in commercial aerostructures; PARA, New York's global media and entertainment juggernaut; and MKTX, an international financial technology company that specializes in electronic trading for institutional credit markets.

Moreover, we have the formidable agribusiness and food processing colossus, ADM, based out of Chicago; alongside CHTR, the telecommunications and mass media powerhouse that operates under the Spectrum brand; and finally, the iconic aerospace conglomerate BA, widely recognized for its comprehensive offerings ranging from commercial aircraft to sophisticated defense systems and beyond.

Investors are keeping a vigilant eye on these firms as they navigate through difficulties to discern whether there might be potential recoveries or further declines to anticipate in their stock valuations.

Tesla, S&P500, Stocks