Recent Winners Become Losers For A Day
The large-cap Russell 1,000 fell 0.35% on the day, but more than 2/3 of stocks in the index were actually up on the day, so breadth was quite strong. It was only really the mega-caps and the stocks that had been surging over the past month that finished in the red.
Below we have broken the Russell 1,000 into deciles based on stock performance from 5/5 to 6/6, a period in which some of the recent high-fliers really took off. The bars on the chart highlight the average performance today of the ~100 stocks in each decile.
As shown, the decile of the best-performing stocks from May 5th to June 6th averaged a decline of more than 1% today, while every other decile averaged gains between 0.5% and 1.4%. It really was only a small group of stocks that pulled down the broad market today!
Below is a table showing the 25 best-performing stocks in the Russell 1,000 from May 5th to June 6th. Look at some of these moves! Two stocks were actually up more than 100% over this roughly one-month time frame.
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Disclaimer: Bespoke Investment Group, LLC believes all information contained in this report to be accurate, but we do not guarantee its accuracy. None of the information in this report or any ...
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