We recently published an article titled Trade Tensions Weigh Heavily on 10 Stocks. In this article, we are going to take a look at where Celestica Inc. (NYSE:CLS) stands against the other stocks.
The stock market kicked off the trading week in a bloodbath, erasing last week’s gains, with all major indices posting heavy losses following President Donald Trump’s imposition of additional 10-percent tariffs on China, and the resumption of 25-percent taxes on Mexico and Canada.
The tech-heavy Nasdaq posted the biggest losses, down 2.64 percent, followed by the S&P at 1.76 percent and the Dow Jones at 1.48 percent.
According to Trump, there was no room left for Mexico and Canada, and his 25-percent tariff for the two countries “will start.” He also signed an additional 10 percent tariff on goods from China.
The overall sentiment spilled into the performance of 10 companies, which on Monday lost as high as double digits.
To come up with Monday’s top losers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.
A close-up of a circuit board with components depicting the intricate electronic componentry products the company produces.
Celestica Inc. (NYSE:CLS)
Celestica Inc. (NYSE:CLS) declined for a third straight day on Monday, losing 13.31 percent to end at $92.80 apiece as investors sold off positions in Canadian companies to mitigate risks of the growing US- Canada trade tensions.
Headquartered in Canada, Celestica Inc. (NYSE:CLS) is a company that offers hardware platform and supply chain solutions to various industries.
Just recently, the company announced that it achieved revenues of $2.55 billion in the fourth quarter of 2024, showing a 19 percent increase from the $2.14 billion in the fourth quarter of 2023.
Earnings per share during the same period also surged to $1.29 from 77 cents year-on-year.
For this year, Celestica Inc. (NYSE:CLS) posted confidence that it would achieve improved business and earnings performance, as it raised its full-year outlook as a reflection of the strengthening demand in its Connectivity and Clouds Solutions segment.
Overall CLS ranks 5th on our list of Monday’s top losers. While we acknowledge the potential of CLS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CLS but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock
Disclosure: None. This article is originally published at Insider Monkey.
