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SolarEdge, Insulet, and Dollar General lead the S&P 500 in Q3 losses.

SolarEdge Technologies Inc. (SEDG), Insulet Corp. (PODD), and Dollar General Corp. (DG) were the S&P 500’s sharpest decliners in the 3rd quarter, with the index losing 3.65%.

SolarEdge Technologies, Inc.

During the third quarter of 2023, the solar energy firm was the index’s worst-performing stock, shedding over half its value for stockholders in just three months. The substantial loss was caused by inflation, supply-chain disruptions, and rising pains.

SolarEdge stock slumped after an August earnings report revealed that the firm fell short of forecasts, with estimated sales of $880 million to $920 million, falling shy of the $1 billion goal set by analysts.

Insulet Corp.

Insulet was the S&P 500’s second-worst falling stock in the third quarter. The shares of the firm, which manufactures insulin-delivery devices, fell 45.19%, owing mostly to gains achieved by its competitors.

Weight-loss medicines have been increasingly popular in the last year, resulting in supply shortages and rising stock prices for the firms that manufacture them. Both Novo Nordisk (NVO), which manufactures Ozempic and Wegovy, and Eli Lilly (LLY), which manufactures a comparable medicine called Mounjaro, set all-time high stock prices in August. Insulet had a steep third-quarter fall while Novo Nordisk and Eli Lilly set new highs.

Dollar General

With a reduction of 37.68%, the discount shop chain had the third largest drop in stock price for the quarter. Dollar General’s loss was part of a broader decline in the consumer staples industry.

Dollar General shares sank to its lowest level since 2019 after reporting lower-than-expected quarterly results in August. The low earnings were ascribed to decreased customer visitation as a result of a shift in consumer spending to consumables, as well as increasing theft.

According to Fidelity study, the consumer-stuff firms poised to prosper in 2023 are those that “raise prices without losing sales volumes,” advice that may not be too helpful for retailers like Dollar General and Dollar Tree (DLTR), which entice people with low pricing.

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