Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Why Are These 5 Stocks Deep in the Red Today?

Although the S&P 500 is up by 0.36%, shares of Celator Pharmaceuticals Inc (NASDAQ:CPXX), Ascena Retail Group Inc (NASDAQ:ASNA), Nordstrom, Inc. (NYSE:JWN), Chico’s FAS, Inc. (NYSE:CHS), and Boot Barn Holdings Inc (NYSE:BOOT) are deep in the red this afternoon. Let’s examine the events that have caused investors to sell these stocks and see what the world’s greatest investors think of each of them.

Our research determined that following the small-cap stocks that hedge funds are collectively bullish on can help a smaller investor to beat the S&P 500 by around 95 basis points per month (see the details here).

A receding tide sinks all boats, as Ascena Retail Group Inc (NASDAQ:ASNA) shares are down by roughly 3%, Nordstrom, Inc. (NYSE:JWN) shares have retreated by 2.3%, and Chico’s FAS, Inc. (NYSE:CHS) shares have shrunk by 2.7%, all primarily due to disappointing sales data from peer Gap Inc (NYSE:GPS). For the month of March, Gap reported net sales of $1.43 billion versus the net sales of $1.53 billion that it reported for March of 2015. The weak results translate to a roughly 6% decline in comparable sales and sent Gap shares down by more than 13% today. Investors fear that the weak demand for Gap’s products could translate to weaker demand for the broader industry as a whole.

Follow Ascena Retail Group Inc. (NASDAQ:ASNA)
Trade (NASDAQ:ASNA) Now!

The number of elite funds in our database invested in Ascena Retail Group Inc (NASDAQ:ASNA) rose by three to 26 during the fourth quarter. Alexander Medina Seaver‘s Stadium Capital Management was the largest shareholder of the stock among those 26 investment firms, holding 9.23 million shares. Meanwhile, 29 funds held $208.55 million worth of Nordstrom, Inc. (NYSE:JWN) shares at the end of the fourth quarter. That marked a large decline from 38 funds with $840.88 million in shares at the end of the third quarter. Lastly, the number of elite funds long Chico’s FAS, Inc. (NYSE:CHS) stood at 22 at the end of December, down by over the fourth quarter. Those funds, which included Jim Simons’ Renaissance Technologies and Cliff Asness‘ AQR Capital Management, owned 14.9% of the Chico’s float.

Follow Nordstrom Inc (NYSE:JWN)
Trade (NYSE:JWN) Now!

On the next page we examine why Boot Barn Holdings and Celator Pharmaceuticals are in the red this afternoon.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading...