10 Stocks That Underperformed Last Week

4. Celanese Corp. (NYSE:CE)

Shares of Celanese Corp. plunged by 22 percent last week, closing Friday’s trading at $52.76 apiece versus the $68.06 registered on February 14 as investor sentiment was dampened by a pessimistic outlook for the year coupled with dismal earnings performance in 2024.

Last year, CE swung to a net loss of $1.5 billion, reversing a net income of $1.96 billion in 2023, as operating loss ended at $697 million versus an operating income of $1.69 billion in the same comparable period.

For the fourth quarter alone net loss stood at $1.9 billion, a reversal of its $259-million net income in the same period last year. Net sales, however, declined by 7.7 percent to $2.37 billion from $2.57 billion year-on-year.

According to the company, it expects the sequential demand and pricing challenges experienced in the fourth quarter to be largely unchanged in the first quarter of the year.