Wolfe’s tax loss selling stocks within communications, discretionary, staples, energy, financials, health care

Wolfe Research put together a tax loss selling basket.

Typically, the biggest year-to-date losers underperform in a big way during the last months of the year, and with the Oct. 31 mutual fund year-end approaching, analysts expect tax loss selling to accelerate.

“Historically, avoiding the biggest year-to-date losers has been a positive alpha generating strategy heading into the last several months of the year,” wrote Chris Senyek, chief investment strategist, in a note. “The reason is that the market’s biggest laggards can be subject to selling pressures by investors looking to harvest capital losses and/or provide ‘window dressing’ for their annual reports.”

September, October and December are the most common for mutual funds.

The following stocks, divided by sector, are in Wolfe’s tax loss selling basket, part 1:

Communication services:

• Sirius XM Holdings Inc. (SIRI) – Year-to-date price change: -58%; Price vs. 12-month volume-weighted average price: -31%
• ZoomInfo Technologies (ZI) – Year-to-date price change: -47%; Price vs. 12-month volume-weighted average price: -29%
• Snap Inc. (SNAP) – Year-to-date price change: -37%; Price vs. 12-month volume-weighted average price: -15%
• Warner Bros Discovery (WBD) – Year-to-date price change: -32%; Price vs. 12-month volume-weighted average price: -12%
• Paramount Global (PARA) – Year-to-date price change: -29%; Price vs. 12-month volume-weighted average price: -15%
• Iridium Communications (IRDM) – Year-to-date price change: -23%; Price vs. 12-month volume-weighted average price: 3%
• Charter Communications (CHTR) – Year-to-date price change: -17%; Price vs. 12-month volume-weighted average price: -1%

Consumer discretionary:

• Mobileye Global Inc. (MBLY) – Year-to-date price change: -71%; Price vs. 12-month volume-weighted average price: -50%
• Five Below Inc. (FIVE) – Year-to-date price change: -58%; Price vs. 12-month volume-weighted average price: -27%
• Rivian Automotive Inc. (RIVN) – Year-to-date price change: -54%; Price vs. 12-month volume-weighted average price: -24%
• Lululemon Athletica Inc. (LULU) – Year-to-date price change: -49%; Price vs. 12-month volume-weighted average price: -26%
• Fox Factory Holding Corp. (FOXF) – Year-to-date price change: -42%; Price vs. 12-month volume-weighted average price: -23%
• Etsy Inc. (ETSY) – Year-to-date price change: -37%; Price vs. 12-month volume-weighted average price: -23%
• Bath & Body Works (BBWI) – Year-to-date price change: -31%; Price vs. 12-month volume-weighted average price: -21%
• Lear Corp. (LEA) – Year-to-date price change: -24%; Price vs. 12-month volume-weighted average price: -16%
• NIKE Inc. (NKE) – Year-to-date price change: -24%; Price vs. 12-month volume-weighted average price: -10%
• ULTA Beauty (ULTA) – Year-to-date price change: -24%; Price vs. 12-month volume-weighted average price: -11%
• Aptiv Plc (APTV) – Year-to-date price change: -23%; Price vs. 12-month volume-weighted average price: -10%
• Lucid Group Inc. (LCID) – Year-to-date price change: -19%; Price vs. 12-month volume-weighted average price: -4%

Consumer staples:

• Walgreens Boots Alliance Inc. (WBA) – Year-to-date price change: -67%; Price vs. 12-month volume-weighted average price: -48%
• Dollar Tree Inc. (DLTR) – Year-to-date price change: -51%; Price vs. 12-month volume-weighted average price: -37%
• Celsius Holdings Inc. (CELH) – Year-to-date price change: -45%; Price vs. 12-month volume-weighted average price: -49%
• Dollar General Corp. (DG) – Year-to-date price change: -40%; Price vs. 12-month volume-weighted average price: -32%
• Lamb Weston (LW) – Year-to-date price change: -37%; Price vs. 12-month volume-weighted average price: -16%
• The Estee Lauder Companies Inc. (EL) – Year-to-date price change: -35%; Price vs. 12-month volume-weighted average price: -20%
• Darling Ingredients Inc. (DAR) – Year-to-date price change: -28%; Price vs. 12-month volume-weighted average price: -14%
• Archer-Daniels-Midland Co. (ADM) – Year-to-date price change: -19%; Price vs. 12-month volume-weighted average price: -5%
• The Boston Beer Co. (SAM) – Year-to-date price change: -18%; Price vs. 12-month volume-weighted average price: -8%

Energy:

• New Fortress Energy Inc. (NFE) – Year-to-date price change: -76%; Price vs. 12-month volume-weighted average price: -57%
• Apache Corp. (APA) – Year-to-date price change: -26%; Price vs. 12-month volume-weighted average price: -15%
• PBF Energy Inc. (PBF) – Year-to-date price change: -23%; Price vs. 12-month volume-weighted average price: -24%
• Patterson-UTI Energy Inc. (PTEN) – Year-to-date price change: -23%; Price vs. 12-month volume-weighted average price: -23%

Financials:

• New York Community Bancorp (NYCB) – Year-to-date price change: -65%; Price vs. 12-month volume-weighted average price: -22%
• Franklin Resources Inc. (BEN) – Year-to-date price change: -34%; Price vs. 12-month volume-weighted average price: -19%
• Global Payments Inc. (GPN) – Year-to-date price change: -23%; Price vs. 12-month volume-weighted average price: -14%

Health care:

• agilon health (AGL) – Year-to-date price change: -75%; Price vs. 12-month volume-weighted average price: -55%
• 10x Genomics Inc. (TXG) – Year-to-date price change: -65%; Price vs. 12-month volume-weighted average price: -36%
• Apellis Pharmaceuticals Inc. (APLS) – Year-to-date price change: -53%; Price vs. 12-month volume-weighted average price: -41%
• Humana Inc. (HUM) – Year-to-date price change: -47%; Price vs. 12-month volume-weighted average price: -35%
• DexCom Inc. (DXCM) – Year-to-date price change: -47%; Price vs. 12-month volume-weighted average price: -33%
• Quidel Corp. (QDEL) – Year-to-date price change: -41%; Price vs. 12-month volume-weighted average price: -7%
• Moderna Inc. (MRNA) – Year-to-date price change: -39%; Price vs. 12-month volume-weighted average price: -38%
• DENTSPLY SIRONA (XRAY) – Year-to-date price change: -31%; Price vs. 12-month volume-weighted average price: -17%
• BioMarin Pharmaceuticals (BMRN) – Year-to-date price change: -29%; Price vs. 12-month volume-weighted average price: -20%
• Biogen Inc. (BIIB) – Year-to-date price change: -29%; Price vs. 12-month volume-weighted average price: -18%
• Acadia Healthcare Co. (ACHC) – Year-to-date price change: -27%; Price vs. 12-month volume-weighted average price: -21%
• Ionis Pharmaceuticals (IONS) – Year-to-date price change: -25%; Price vs. 12-month volume-weighted average price: -17%
• Perrigo Co. (PRGO) – Year-to-date price change: -23%; Price vs. 12-month volume-weighted average price: -15%
• Repligen Corp. (RGEN) – Year-to-date price change: -23%; Price vs. 12-month volume-weighted average price: -11%
• Envista (NVST) – Year-to-date price change: -23%; Price vs. 12-month volume-weighted average price: -9%
• Penumbra Inc. (PEN) – Year-to-date price change: -22%; Price vs. 12-month volume-weighted average price: -7%
• CVS Health Corp. (CVS) – Year-to-date price change: -20%; Price vs. 12-month volume-weighted average price: -4%

Here is Part 2.

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