The S&P 500 is currently down about 8.5% from its 52-week high less than two weeks ago, but the average stock in the S&P 500 is now down 14.3% from its respective 52-week high. That may seem like a pretty wide discrepancy, but it’s actually pretty common for the individual stock reading to be much lower than the index itself due to the fact that not all stocks hit 52-week highs at the same time as the index. In fact, you rarely even see a third of stocks hit an all-time high on the same day.
While the ‘average’ stock is down 14.3%, the vast majority of stocks are down less than the average – 328 to be exact. Of those 328 names, 170 are still down less than 10% from their respective highs. So who is currently the biggest loser in the S&P 500? That title belongs to Range Resources (RRC). At a current price of $13.16, RRC is down over 60% from its 52-week high. Behind RRC, there are three other stocks down over 50%. They are Chesapeake (CHK), General Electric (GE), and Envision Healthcare (EVHC). The demise of GE has certainly been a major fall from grace. While the stock didn’t perform well under the leadership of Jeff Immelt, it hasn’t been any better since he left. In fact, since Immelt officially retired on October 2nd, 2017, GE shares are down more than 40%!
On the upside, shares of Scripps Networks (SNI) have been holding up better than any S&P 500 stock as they are down less than 2% from their 52-week highs.