With the S&P 500 (VOO) recently hitting new all-time highs, it is a prudent exercise for investors to look at what companies might be missing the broad market rally to screen for potential opportunities. Yesterday's article entitled, Value's Value Today, explored whether Value stocks might be poised for market-beating performance after lagging the market in recent years. In this article, I wanted to frame the companies still trading meaningfully below their 52-week highs as the broad market index sets new records.
The graph below shows the distribution of S&P 500 constituents relative