In the last several days, the post-pandemic economic recovery has met snags. At the end of September 11, the seasonally adjusted weekly unemployment rate was 332,000, up 20,000 from the previous week. The major Wall Street indices have taken minor losses. The new developments harmed the energy and technology sectors the most. The S&P 500, which large technology companies dominate, fell 0.62 percent. Unilever PLC and Wynn Resorts are among the stocks that have been impacted.
Here is Insider Monkey’s list of the 10 stocks that analysts are downgrading. Antibody therapies are produced and sold by this company for the treatment of cancer and other disorders. On September 16, Jefferies downgraded Genmab A/S from Buy to Hold, citing a lack of key near-term growth catalysts. Equinor ASA is rated ninth. The company is a full-service oil and gas corporation. With 1.6 million shares worth more than $35 million, Point72 Asset Management is a major stakeholder. The eighth stock on the list of ten equities that analysts are downgrading is Lordstown Motors Corp. Bank of America downgraded the company’s shares from Neutral to Underperform. The company was one of the “least legitimate” electric vehicle producers on the market. Fisker Inc. is rated seventh. Electric vehicles are designed, developed, and sold by this company. 16 hedge funds had a $256 million investment in Fisker at the end of the second quarter of 2021. Beyond Meat, Inc. is ranked sixth among the ten stocks downgraded by analysts. The company is a food company that specializes in the development and commercialization of plant-based meat products. With 1.8 million shares worth more than $288 million, Citadel Investment Group is the largest stakeholder. For more details, click 10 Stocks That Analysts Are Downgrading.
