3 Biggest Losers in Stock Market, Tesla Falls

Tesla, American Airlines, and United Airlines were some of the worst stocks in the stock market this week as the coronavirus outbreak crashed markets.
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All of the poor performing stocks listed below come from the Nasdaq 100 which closed this week at 8,461.84, falling over 550 points. TheStreet's expert analyst team calculated the worst performers by the percentage change in the Nasdaq 100 for the week ending Feb. 28th.

1. American Airlines AAL | Percentage Increase: -31.52% | Friday Closing Price: $19.02

Airline stocks are lower after a report said the coronavirus outbreak could cost air carriers in the Asia-Pacific region $29 billion of revenue in 2020. The coronavirus hit American Airlines  (AAL) - Get Report the hardest after it cut its share price nearly a third.

The coronavirus spread could get worse for travel-related stocks as companies around the world could start cutting non-essential travel. American was one of the leaders in travel to China along with most international travel so this turbulence was expected.

American Airlines Quantitative Analysis by TheStreet Quant Ratings

TheStreet Quant Ratings rates American Airlines as a Hold with a rating score of C.

2.  Tesla Inc TSLA | Percentage Increase: -25.86% | Friday Closing Price: $667.99

Tesla  (TSLA) - Get Report was downgraded to hold from buy at Jefferies, though the firm increased its price target on the electric-vehicle producer. Jefferies wasn't the only one casting doubt around Elon Musk's innovative car company when Morgan Stanley analysts said Tesla is vulnerable to rising competition in a still-maturing market.

Did coronavirus have any effect on Tesla this week? Yes, it did as registrations of new Tesla cars in China plunged by almost half in January from December as the Lunar New Year holiday and the coronavirus outbreak keep buyers away.

Tesla Quantitative Analysis by TheStreet Quant Ratings

TheStreet Quant Ratings rates Tesla as a Hold with a rating score of C.

3. United Airlines UAL | Percentage Increase: -21.05% | Friday Closing Price: $61.59

United Airlines  (UAL) - Get Report says 'heightened uncertainty' surrounding the coronavirus outbreak has caused it to pull its 2020 earnings forecast. United slashed its Asia service as they continue to cope with the level of uncertainty in air travel during the outbreak.

Things got even worse later in the week as shares of United dropped after analysts downgraded the stock amid fears about the spreading coronavirus.

United Airlines Quantitative Analysis by TheStreet Quant Ratings

TheStreet Quant Ratings rates United Airlines as a Buy with a rating score of B-.

NOTE: Recently, Quantitative Analysis by TheStreet Quant Ratings objectively rated these stocks according to its risk-adjusted total return prospect over a 12-month investment horizon. Not based on the news on any given day, the rating may differ from Jim Cramer's view or that of this articles' author.

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