Super Micro joined the list after a 33% drop on Wednesday
The S&P 500 rose nearly 1% during the first 30 days of October. But underneath that ho-hum movement has been plenty of volatility.
Among the S&P 500
SPX-1.54%, 94% of stocks have risen 5% or more this month.
Read: United Airlines and Nvidia bookend list of 15 soaring S&P 500 stocks in October
Meanwhile, 55% of stocks in the S&P 500 have declined this month, and 124 of them have fallen 5% or more.
Here are the worst performers in October among the S&P 500. Year-to-date price changes are included along with those for the previous two years and from the end of 2021, to incorporate the broad stock-market decline in 2022. All price changes in this article exclude dividends.
Click the tickers for more about each company, including news coverage and financials.
Read: Tomi Kilgore’s guide to the wealth of information available for free on the MarketWatch quote page.
Qorvo
QRVO-3.15% leads the list with a 29.3% decline for October. The stock fell 27% on Wednesday, after the company issued weak revenue guidance.
Barron’s: Qorvo stock tumbles after earnings beat. Here’s why.
Among higher profile names on the list, Super Micro
SMCI-11.37% has been going through a period of uncertainty — and weakness for its formerly soaring stock — since Hindenburg Research (a short-selling firm) published a report detailing what it called “glaring accounting red flags.”
Emily Bary summarized this unfolding story on Wednesday while covering the latest developments, including the resignation of Ernst & Young as Super Micro’s auditor. The stock fell 33% Wednesday.
Investors and traders might wonder if there are potential bargains among the stocks that fell the most in October. For Qorvo, the consensus price target among analysts working for brokerage firms polled by FactSet was $94.44 on Friday morning. That was down 22% from a consensus price target of $121.47 a week earlier. But it was 29% higher than the stock’s closing price of $73.04 on Wednesday. Then again, more than two-thirds of the analysts have neutral ratings on Qorvo’s shares.
Leaving the list of 15 biggest decliners among the S&P 500 in the same order, here is a summary of analysts’ opinions of the stocks:
Among the analysts, the favorite stock at the moment is AES
AES0.37%, with 87% “buy” or equivalent ratings, and a consensus price target 39% higher than the closing price on Wednesday.
