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While the stock market enjoyed a banner year in 2024, some stocks fared badly.
The reasons for their struggles vary. The business's structure didn't work, a turnaround plan faltered, the market dried up, and global sales fell.
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And, of course, investors lost confidence and could make far greater returns elsewhere, like Palantir Technologies (PLTR) , 2024's top S&P 500 performer.
Related: Gangbuster S&P 500 returns depend on one crucial thing in 2025
In fact, some 98 Standard & Poor's 500 stocks suffered double-digit declines in a year when the index was up more than 23% on top of a 24% gain in 2023.
Here are the five worst S&P 500 performers
Walgreens Boots Alliance: A global health care strategy didn't work (Down 64%)
Walgreens Boots Alliance (WBA) was cobbled together with a giant U.S. pharmacy chain and a British counterpart. The goal was to be a one-stop place for basic health care needs.
The strategy didn't work.
There were way too many stores, not enough customers and intense competition from other pharmacy chains, plus the likes of Walmart (WMT) , Target (TGT) , Kroger (KR) , Albertsons (ACI) and Costco Wholesale (COST) .
Walgreens Boots was removed from the Dow Jones Industrial Average in February, replaced by Amazon.com (AMZN) . Now, Walgreens is working on a plan to go private.
Intel: A legendary tech company overwhelmed by change (Down 60%)
Intel (INTC) once was among the most admired and feared chip makers, especially when the legendary Andy Grove was CEO.
Related: Veteran analyst who predicted the S&P 500's rally unveils target for 2025
Intel chips powered nearly all personal computers using the Microsoft (MSFT) Windows operating system for years. However, competition increased, starting with Advanced Micro Devices (AMD) offering processors similar to Intel's.
And then the business changed. PC sales flattened. The Internet and cloud computing erupted, and now artificial intelligence. Its strategy of designing and building chips was supplanted by companies like Taiwan Semiconductor (TSM) , which makes chips to customers' specifications. Former CEO Pat Gelsinger's dream of building foundries in the United States has stalled.
Moderna: A hero of the fight against Covid-19 sees its market shrink (Down 58%)
Moderna (MRNA) was the spunky pharmaceutical company that came up with a viable vaccine to protect millions against getting Covid-19.