Jim Cramer reviews the worst performers on the Nasdaq-100 in 2023

CNBC’s Jim Cramer on Thursday gave his take on the worst performers in the Nasdaq-100 in 2023.

Cramer in contrast every firm’s closing worth in 2022 to the finish of 2023, noting the largest losers. The listing included healthcare corporations in addition to a number of utilities outfits.

“You’ve heard of the Dogs of the Dow? Well, now I need to speak to you about the Gnats of the Nasdaq, the worst performers in the Nasdaq-100 for 2023,” Cramer mentioned. “Just like the canine of the Dow, possibly, simply possibly, there are some high quality shares right here which can be able to make a comeback.”

1. Moderna: Cramer famous that this pharmaceutical big was additionally one among the backside shares on the S&P 500 final yr, suggesting it could nonetheless be affected by a post-Covid hangover.
2. Illumina: Cramer likened this diagnostic tools producer to Moderna, an organization that noticed success throughout the pandemic however has since “failed to seek out its subsequent act.” Illumina’s inventory has additionally been tainted by a botched $7 billion acquisition of GRAIL, an outfit that makes most cancers screening exams. The standing of the deal has been in limbo for just a few years, and Cramer suggested traders to attend for readability on that entrance earlier than taking any motion.
3. Walgreens: The family retail pharmacy identify beat Wall Street’s income expectations in its Thursday earnings report, however shares plunged after the firm slashed its quarterly dividend virtually in half. Cramer mentioned he is inspired by the firm’s earnings and recommended it could be price one other look now that the inventory’s worth has dipped. Walgreens was the worst performer of the Dow 30 in 2023.
4. Exelon: Exelon was the worst performer of the utilities, Cramer mentioned, however he isn’t stunned — many dividend shares suffered in 2023 because of relentless rate of interest hikes.
5. American Electric Power: Cramer mentioned he’d advocate American Electric Power over Exelon, saying it is a “a lot safer guess.” He was inspired by the firm’s November earnings outcomes and the CEO’s assertion that wholesome financial progress in quite a few service areas drove the strong quarter.
6. PayPal: Although there have been many tech winners in 2023, PayPal was not one among them, Cramer mentioned. He mentioned the firm’s core digital funds providing was now not distinctive, challenged by giants like Apple and Amazon.

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Disclaimer The CNBC Investing Club Charitable Trust holds shares of Apple and Amazon.