The 2023 Stock Market Winners and Losers Summary is a Story of ups and downs. Entering 2023 after a Fed tightening cycle proved restrictive but seemingly unsuccessful, as inflation continued as rates rose. These factors began to push consumers and business segments to apparent breaking points. But a rapid reversal occurred in mid-autumn, when inflation fell and calls for a soft landing seemed more viable.
The US stock market was not affected by inflation, high interest rates, the bankruptcy crisis that affected a small number of US banks and geopolitical tensions worldwide. That rally accelerated in December amid rumors of impending rate cuts, and markets surged back to all-time highs offering bulls an early Christmas present while acting as coal in the stockings of permanent bears.
US indices rise
Although the 2023 stock market is ending the year on a high note, there are some winners and some losers. Some companies fared better than most, but others couldn't ride the wave and may not survive intact until 2024.
The three main indices of the NYSE posted profits during the current year. The influx of investors into technology stocks supported that growth. Likewise, the emergence of generative AI has played an increasingly important role in the economy.
Since the beginning of 2023, the S&P 500 has seen an increase of 24.4 percent. That's more than double the index's typical annual return.
Meanwhile, the Dow Jones Industrial Average posted a 13.3 percent rise. Additionally, the tech-dominated Nasdaq Composite posted a 44 percent rise, putting it on track for its top annual performance since 2020. However, it's crucial to note that these percentages are subject to change at the end of the year. last trading day of 2023.
top profitable stocks on wall street
Tech stocks were the best performers on Wall Street this year, recouping gains in 2023 after steep losses in 2022. They were supported by so-called mega tech stocks, led by Apple, Amazon, Alphabet, Meta, Microsoft and Tesla. All of them consolidated the gains of the S&P 500 index so far this year. And there were some huge profits. Both Microsoft (MSFT) and Apple (AAPL) each added almost 1 trillion dollars in market value in just one year.
According to Bloomberg, at the end of 2022, experts expected the S&P 500 index to end 2023 at 4,078 points. In fact, the index has currently exceeded 4,700 points. It recorded gains of more than 22 percent, meaning that expectations were completely implausible and surpassed the state of pessimism that reigned when they were published.
Best Wall Street Stocks in 2023
According to George Khoury, global head of education and research at CFI Group, the best-performing stocks on Wall Street this year are:
Carvana (CVNA): The leading online used car sales company announced an impressive 1,082% growth in its share price from the beginning of 2023 to date. Strong net income in the third quarter of 2023, which amounted to $741 million, supported this growth.
ImmunoGen Inc. (IMGN): ImmunoGen shares have grown by approximately 581.7% since the beginning of 2023.
MoonLake Immunotherapy (MLTX): MoonLake saw strong growth since the beginning of 2023, rising to $478.2.
Riot Platforms Inc. (RIOT): Riot is a Bitcoin mining company whose shares rose 442.2% during 2023. It benefited from the recovery of the cryptocurrency market to achieve its notable growth.
BridgeBio Pharma Inc. (BBIO): BridgeBio is a company that specializes in the treatment of inherited diseases and cancers. Its stock has grown 406.8% since the beginning of 2023.
Symbotic Inc. (SYM): Symbotic witnessed a remarkable growth of 341.9% since the beginning of 2023. The company met the needs of key customers such as Walmart, Albertsons, and C&S Wholesale Grocers, contributing to its revenue growth of 60% in the fourth quarter of 2023.
Affirm Holdings Inc. (AFRM): Affirm Holdings is the leading provider of buy now, pay later services. It has achieved strong growth since the beginning of the year, reaching 341.8%.
AppLovin Corp. (APP): Achieved 318.9% growth since the beginning of 2023. AppLovin is a global company specialized in providing mobile application technology.
Stocks fell further in 2023
How were 2023 stock market winners, there were some losers too. Investors lost $462 billion by owning just eight stocks that fell the most in market value this year, including vaccine maker Pfizer (PFE), oil giant Chevron (CVX) and Johnson & Johnson (JNJ). Each of these stocks lost more than $30 billion each this year alone, more than any other in the S&P 500, according to analysis.
Sharp divide between stock market winners and losers in 2023
The division between losers and winners is stark this year. "The S&P 500's excellent returns this year have been concentrated in just three tech-heavy sectors," said Nick Colas of DataTrek Research.
Suffering losses this year hurts even more because the S&P 500 had such a good year.
The S&P 500's Biggest Market Value Losers Yon 2023 so far this year
|
CompanyTicker |
% change so far this year |
Loss of market value (billions of dollars) |
|
Pfizer(PFE) |
-44.6% |
-$128.9 |
|
Chevron(CVX) |
-15.9% |
-$53.7 |
|
Johnson & Johnson(JNJ) |
-12.0% |
-$51.0 |
|
Next Era Energy (NEE) |
-28.5% |
-$48.9 |
|
Bristol-Myers Squibb(BMY) |
-27.4% |
-$40.1 |
|
Estee Lauder(EL) |
-41.8% |
-$37.1 |
|
Exxon Mobil(XOM) |
-7.6% |
-33.5$ |
|
Modern (ARNM) |
-47.2% |
-32.3$ |
reinforcement for 2024
This year reminds us again of the importance of cutting losses on losing stocks before they grow too big. This movement can make a big difference and change lives.
It's a good lesson to learn before 2024.
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