Monday was another volatile day for the stock market, with some major benchmarks posting substantial gains even as others gave up ground. Some of the world’s largest technology stocks remained under pressure as their growth potential came into question, but other more cyclical stocks like those that dominate the Dow Jones Industrial Average saw more favorable moves. Investors are trying to stay optimistic in general, but as the bull market nears the end of its 10th year, some think its days are numbered. Activision Blizzard (NASDAQ:ATVI), Teladoc Health (NYSE:TDOC), and Welbilt (NYSE:WBT) were among the worst performers on the day. Here’s why they did so poorly.
Nerves hit Activision
Shares of Activision Blizzard gave up 7% as investors in the video game giant seemed to get a case of nerves in advance of the company’s release of its third-quarter financial results later this week. By most standards, the latest installment of the Call of Duty franchise has done extremely well, but some still wish that the game had been able to live up to all of the hype that surrounded its rollout last month. In addition, shareholders will look closely for early signs of whether competitors are taking market share. In a cutthroat industry, Activision has done well, but today’s drop shows that it’s far from a sure thing that the video gaming company will manage to deliver the performance that investors want to see.
Teladoc gives up its gains
Teladoc Health stock dropped 13%, essentially giving back all of the ground that it had gained last week. Teladoc’s jump came in the wake of its third-quarter financial report late Thursday, in which the virtual healthcare specialist said that revenue soared more than 60% from year-earlier levels. Despite suffering a net loss for the quarter, Teladoc