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Intel stock on Friday capped off its best week in more than a year. The stock’s surge helped shares break above the $50 mark, and also propelled the company out of an exclusive club of
S&P 500 firms.
Since the market’s pandemic low on March 23, 2020, the vast majority of S&P 500 constituents sports big gains. In fact, more than half the component stocks of the S&P 500 have doubled since that date; the mean price change for shares in the index is 133.3%.
As of Wednesday’s close, Intel stock was down 2.6% from its March 23, 2020 close. But after a nearly 7% gain on Thursday, it was back up 4.1% since the pandemic lows. The company’s shares have struggled, but that’s not for lack of trying. CEO Pat Gelsinger has made tough calls such as cutting back on returning capital to shareholders, and allocating more for growth initiatives and domestic manufacturing for a long-term comeback.
With the two-year anniversary of the pandemic lows landing earlier this week, Barron’s screened for the biggest laggards in the S&P 500 index in the time since March 20, 2020. With Intel turning positive on Thursday, it left eight stocks behind in the red.
Name / TickerMarket Cap (b)% Change since 3/23/2020**Total Return since 3/23/2020**Viatris / VTRS*$13.24-30.43-28.22Clorox / CLX16.50-21.18-17.42Biogen / BIIB31.30-20.87-20.87Gilead Sciences / GILD74.15-18.55-11.31Citrix Systems / CTXS12.70-17.06-15.24AT&T / T166.64-12.850.7Las Vegas Sands / LVS30.35-8.56-8.56Fidelity National…..