ZM - The same stocks keeping making the year's winners and losers list
"Reversion to the mean" and "momentum" are polar opposite concepts in market lore, with acolytes in either congregation loudly pledging their allegiance. The truth is, as it were, always in the middle as the same stocks keeping making a list of the year's top winners and losers, be it in slots in either column.Is it a surprise that a stock that has soared through the year will take a break and fall back down to earth in that reversion to the mean? Or that secular market trends that led to its initial outperformance are still in place from the year before, leading yet another year of advancing momentum? Likely not. But some names among S&P 500 (SPY) constituents keep popping up -- and for different reasons.Take Chipotle (CMG). In 2017, remarkably, it was the 8th-worst performing stock in the S&P 500. Did it fall too far too fast? Investors in
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The same stocks keeping making the year's winners and losers list