In this article, we will take a look at the 5 biggest stocks with negative beta. To see more such companies, go directly to 25 Biggest Stocks with Negative Beta.
5. Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL)
Market Cap as of September 13: $3.5B
Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) shares have gained about 200% over the past one year. In June Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) initiated a new rolling submission of its New Drug Application to US regulators for its drug candidate resmetirom for the treatment of nonalcoholic steatohepatitis, or NASH, with liver fibrosis.
John Paulson’s hedge fund opened a new position in Madrigal Pharmaceuticals, Inc. (NASDAQ:MDGL) during the second quarter.
4. GameStop Corp. (NYSE:GME)
Market Cap as of September 13: $5.4B
GameStop Corp. (NYSE:GME), which gained fame when Redditors launched a short squeeze against hedge funds shorting the stock, recently posted strong quarterly results. Adjusted EPS in the second quarter came in at -$0.03 beating estimates by $0.11. Revenue in the period jumped 1.8% year over year to $1.16 billion, beating estimates by $20 million.
As of the end of the second quarter, 10 hedge funds had stakes in GameStop Corp. (NYSE:GME), according to Insider Monkey’s database.
3. KE Holdings Inc. (NYSE:BEKE)
Market Cap as of September 13: $21.3B
KE Holdings Inc. (NYSE:BEKE) shares recently jumped after the company declared a special special dividend and increased its stock buyback program.
Insider Monkey’s database of 910 hedge funds shows that 36 hedge funds had stakes in KE Holdings Inc. (NYSE:BEKE).
Artisan Developing World Fund made the following comment about KE Holdings Inc. (NYSE:BEKE) in its second quarter 2023 investor letter:
“Bottom contributors to performance for the quarter included real estate platform KE Holdings Inc. (NYSE:BEKE). Beike fell due to weaker industry property sales in China in April following the release of strong pent-up demand in Q1, despite accelerating revenue and very modest cost growth.”
2. Zoom Video Communications, Inc. (NASDAQ:ZM)
Market Cap as of September 13: $21.01B
Zoom Video Communications, Inc. (NASDAQ:ZM) ranks 2nd in our list of the biggest stocks with negative beta. Recently, it was reported that Zoom Video Communications, Inc. (NASDAQ:ZM) has flagged Microsoft Corporation (NASDAQ:MSFT)’s bundling of Teams with Microsoft 365 and Office 365 to regulators around the globe.
1. VinFast Auto Ltd. (NASDAQ:VFS) No IM Link
Market Cap as of September 13: $39.8B
VinFast Auto Ltd. (NASDAQ:VFS) is an EV company that recently went public with a huge pomp and show but quickly plummeted. VinFast Auto Ltd. (NASDAQ:VFS) has lost about 53% over the past month through September 9. VinFast Auto Ltd. (NASDAQ:VFS) plans to launch its manufacturing plant in North Carolina in 2025.
You can also take a peek at 12 Best Utilities ETFs to Buy and 11 Best Oil and Gas ETFs.
