2023-11-15 05:45:00 ET
At face value, it looks like the stock market is having a great year in 2023 because the benchmark S&P 500 index is up by more than 15%. But most of that gain is attributable to a small group of big tech stocks called the "Magnificent Seven ."
The rest of the market is lagging behind. The S&P 500 Equal Weight index levels the playing field by giving each stock in the S&P 500 the same representation, regardless of its market capitalization. That index is down 0.4% for the year.
In that light, it shouldn't be surprising that a number of quality individual stocks are trading in the red at the moment, and Bill Holdings (NYSE: BILL) is one of them. The company, which changed its name from Bill.com earlier this year, just reported its financial results for its fiscal 2024 first quarter (ended Sept. 30), and traders sent its stock plunging by 25%. It's now down by about 48% year to date.
For further details see:
1 No-Brainer Stock to Buy With $500 and Hold for 10 Years