Is It Time to Buy the S&P 500's 2 Worst-Performing March Stocks?
Last month ended up being a decent one for stocks. The S&P 500 gained 4.6% in March, touching record highs on the last day of the month.
Not every name fared so well, though. Indeed, a couple of S&P 500 constituents tumbled in a big way. Shares of television media outfit ViacomCBS (NASDAQ: VIAC) (NASDAQ: VIAC.A), fell 34%. Shares of rival TV outfit Discovery (NASDAQ: DISC.A) (NASDAQ: DISCK) were also off, to the tune of 25%.
The common thread is obvious. Both are in the same industry, and more than that, both companies are working on streaming services that circumvent the conventional cable gatekeepers. That deeper foray into streaming is a big reason both stocks soared by triple digits beginning late last year, which in turn is the big reason a slew of analysts have been downgrading both all year long.
Source Fool.com
