These Were the 5 Worst-Performing Stocks in the Nasdaq-100 in 2024

Now that we've shut the door on 2024, it's useful to look back at some of the best -- and, on the flip side, some of the worst -- performers of the year on the stock market. Many outliers were in the tech sector, so it's worth taking a look at the tech-heavy Nasdaq-100 index.

Let's focus on the bottom five names on the index in 2024. Why did investors shun these stocks, and what are the chances that sentiment will change?

Ignored by investors

In order from steepest decline to narrowest, the five unloved were Intel (INTC 1.68%), MongoDB (MDB 0.72%), Biogen (BIIB 1.47%), DexCom (DXCM 3.27%), and Microchip Technology (MCHP 1.39%).

DATA SOURCE: SLICKCHARTS.COM

Intel was once the king of computer chipmakers. It didn't change fast enough with the times, however, and the general decline of its core PC market has left it flailing. Fellow tech sector companies MongoDB and Microchip Technology slid from once-lofty valuations largely due to fundamental factors like lower-than-expected guidance and uncomfortable revenue declines.

DexCom and Biogen are healthcare companies, with the former being a specialized device maker (of glucose monitoring products for diabetics) and the latter a biotech. In the case of DexCom, investors fear that biotech companies could develop effective diabetes treatments, rendering its key products obsolete. Biogen posted decent fundamentals across the year, but a rejection of a top drug by a major regulator helped put it in the doghouse.

Four out of five isn't bad

Of the quintet, the only one I think doesn't have much potential for rebound is Intel. The PC market isn't going to bounce back to any degree, and the company isn't impressively competitive otherwise. The remaining four companies have been somewhat unfairly punished for developments that, for the most part, were either temporary or surmountable. All are worthy of a second look by investors hunting for bargains.