5 Stocks Cut In Half In 2016

After a disastrous start to the year, the S&P 500 has bounced back strongly. Now that the first half of 2016 has come and gone, the January sell-off is a distant memory for most investors, and the SPDR S&P 500 ETF Trust SPY is up a solid 2.1 percent year-to-date.

Unfortunately, not every stock got an invitation to the party. Here’s a look at five stocks that have lost more than half their value so far in 2016.

1. Ionis Pharmaceuticals Inc IONS

Ionis shares plunged 35 percent in a single morning in May after GlaxoSmithKline plc (ADR) GSK declined to initiate a Phase III study of the IONIS-TTR drug program. Ionis’ stock is now down 51.3 percent on the year.

2. SolarCity Corp SCTY

Not even a buyout bid by Tesla Motors Inc TSLA could salvage a disastrous first half of 2016 for SolarCity. After a lackluster 0.7 percent decline in 2015, the stock is down 53.5 percent in 2016.

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3. Fitbit Inc FIT

Fitbit continues to struggle to differentiate its products in an increasingly competitive wearable devices market. So far this year, the stock has fallen 57.8 percent.

4. Endo International plc – Ordinary Shares ENDP

Endo’s stock tanked more than 25 percent following the company’s severe outlook cut in May. Year-to-date, Endo is now down 72.2 percent.

5. Valeant Pharmaceuticals Intl Inc VRX

Valeant’s struggles with accusations of accounting scandal, price gouging and a questionable business model have been highly-publicized. It seems as though very few investors outside of Bill Ackman are willing to bet on a Valeant recovery. The stock is down 79.8 percent in 2016.

Disclosure: The author holds no position in the stocks mentioned.