Posted below are 50 companies with a market cap over $50 million (i.e. weeding out those that actually went completely bust during the year) that have the worst year-to-date stock performances from 2021. I also include a short one-liner description of these companies and/or quick thoughts. This is as of closing prices on November 12, 2021.
Themes / Notes:
The “top 50” lost 72% to 36% of their market value during the year;
Gold mining or shiny metal companies (whether they actually are operating or theoretical) populate 20 of 50 of these;
Bio/pharma (or medical instrumentation) companies were 8 of 50;
Cannabis and related are 7 of 50;
Hydrogen or “clean energy” are 4 of 50.
When looking at these 50, there were none of them that passed my own personal screens for being worthy of a watchlist placement. Your mileage might vary. There is no “best of the worst” here, I really don’t like this year’s crop of tax loss candidates, at least the top 50.
certainly a dog’s breakfast of stocks – I know Akumin will likely be subject to a class action lawsuit due to misreporting (spoke to legal firm which is looking into getting one started)
So, tax loss selling season arrived earlier this year. Seems like by the end of the year 50% of the market will be “tax losses sales” 🙂