These Were the 5 Worst-Performing Stocks in the Nasdaq-100 in 2024

As we bid farewell to 2024, it's worth taking a look back at the year's underperformers in the tech-heavy Nasdaq-100 index. While the index itself rose by over 23%, not all companies fared well. Here are the five worst-performing stocks in the Nasdaq-100 in 2024, along with the reasons behind their poor performance and potential paths to recovery.

1. Intel (INTC) - Down 61%
Intel, once the king of computer chipmakers, has struggled to keep up with the times. The company's strategic missteps, such as passing on the chance to develop the chip for Apple's iPhone and falling behind in manufacturing, have left it flailing. Intel's June quarter was brutal, with earnings per share missing expectations by 80% and revenue falling 1%. Although the September quarter beat forecasts, revenue dropped 6%, and Intel posted a nearly $17 billion net loss. The company has taken turnaround steps, including a cost-reduction plan and the departure of Pat Gelsinger as CEO. However, analysts remain cautious about the stock, especially after Gelsinger's departure.

2. MongoDB (MDB) - Down 43%
MongoDB develops commercial support for open-source databases, enabling businesses to manage data across the cloud, on-premises, and in hybrid environments. While Wedbush expects a boom in AI software in 2025, the investment firm remains uncertain whether MongoDB can share in that growth. The company had a better Q3 earnings report, but "conservative" Q4 guidance and CFO Michael Gordon's departure raised concerns for investors. Analysts have raised their price targets for MongoDB, indicating a more positive outlook, but the company must address growth concerns and competition in the database market to regain investor confidence.

3. Biogen (BIIB) - Down 42%
Biogen, a developer of therapies for neurological illnesses, faced setbacks with Alzheimer’s drug Leqembi, declining sales of key multiple sclerosis treatments, and reduced contract manufacturing and royalty revenue. The company's fundamentals were decent across the year, but a rejection of a top drug by a major regulator helped put it in the doghouse. Biogen is working to change the course of the company, but analysts believe that these efforts will take time to materialize. The company is also exploring new therapies and treatments to diversify its revenue streams and improve its financial performance.

4. DexCom (DXCM) - Down 37%
DexCom, a maker of insulin monitoring devices, faced an uphill climb in 2024, partly because of the growing use of weight-loss drugs. The company's CEO, Kevin Sayer, acknowledged the challenges and stated that the company was working on new products and partnerships to address these issues. DexCom is focusing on innovation and new product development to maintain its competitive edge in the market. The company is also working to improve its operational efficiency and cost structure to better navigate the current market conditions and regain investor confidence.

5. Microchip Technology (MCHP) - Down 37%
Microchip Technology slid from once-lofty valuations largely due to fundamental factors like revenue declines. The company has been working to address these challenges and improve its fundamentals. However, analysts remain cautious about the stock, especially given the intense competition in the semiconductor industry. Microchip Technology must focus on innovation, cost reduction, and strategic adjustments to better position itself in the market and improve its financial performance.



In conclusion, the five worst-performing stocks in the Nasdaq-100 in 2024 faced various challenges, from strategic missteps to regulatory setbacks and market competition. To improve their financial performance and regain investor confidence, these companies must address their specific challenges and implement effective strategic changes. As an investor, it's essential to stay informed about these developments and make well-informed decisions based on the latest data and expert insights.