You would have had have been living under a rock and completely disconnected from all forms of media over the past year to not know how bad a year it’s been for energy stocks. Indeed, eight of the 10 worst performers on the S&P 500 in 2015 were oil and gas companies.
Chesapeake Energy had a particularly forgettable year. The oil and gas company now has a market cap below US$3 billion, down from more than US$20 billion in mid-2014. Over the past year Chesapeake’s shares have plunged 77.7%, far more than most of its competitors, due in large part to its higher debt levels. Given how well the U.S. tech sector performed in 2015 Micron Technology stands out on the list below for all the wrong reasons. The semiconductor maker saw its share price drop 59.6% due to weak PC demand.
Here’s a look at the worst performers on the S&P 500 in 2015 (as of December 30):
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