3 Stocks That Have Dropped the Most in 2020

3 Stocks That Have Dropped the Most in 2020

Between an unstable government and a global pandemic, the 2020 stock market has not had a great year. In fact, anyone watching the Wall Street stock market has seen probably gotten a little motion sick. The good news is by the close of 2020 most of the market actually looked somewhat stable as many stocks recovered as the pandemic became part of normal life. However, other stocks fizzled with no hope of return, like the following three stocks. Here are three stocks that dropped the most over the course of 2020.

Carnival Corporation

It's a bad year to be in the cruise business. Not only did one of the first COVID breakouts occur on a cruise ship, but there is no safe way to offer customers a socially distanced cruise experience while waiting for the pandemic to end. Unlike other forms of travel that can make accommodations, it is unlikely that people will be jumping at booking cruises even with expensive safety precautions in place. It may be a few years before Carnival can hope to recover. At the current time, their 2020 stock market cap is $10.5 million which is a -70% to date performance that would make any business owner shudder.

Sabre Corp

Sabre Corp is a tech company, which generally has not been affected by the pandemic since most people are leaning heavily on technology for virtual work and school. However, unfortunately, Sabre's niche is providing tech solutions to the hospitality, travel, and airline industry which has been hit the hardest by the pandemic. The nonexistent travel industry makes Sabre redundant with overall revenue dropped by 93% over the course of the yard. In fact, the company only netted $83 million compared to one billion in 2019. Stock isn't likely to turn around for a few years, and even then it will likely be a prolonged rise.

Coty

The beauty industry has been hit in more ways than one by the pandemic. First of all, people don't want to spend money on extras with so much economic uncertainty, and unfortunately, that means makeup and new hairstyles. Second, people don't want to go get their haircut or beauty services, which sunk COTY over the course of 2020 and forced teh company to divest 60% of its hair and beauty business. As if this wasn't enough, with everyone staying home there is no need to do hair and makeup daily, which means a sharp drop in the regular income they received off of customers who previously used products daily and needed to restock frequently. Coty ended the 2020 stock market year with a YTD performance of -70%.

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