The fact investors like to split during the summer even might offer up some explanations for the stocks that suffer from severe summer doldrums. Less interest in money and all things finance during the summer is bad — especially if you're in the money business.
Four of the nine stocks that have lagged the market in each of the past five summers are in the financial sector. That includes Charles Schwab, which relies on trading commissions for a part of its revenue as well as Northern Trust, State Street and T. Rowe Price.
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The hardest hit stock in the summers past is specialty glass maker, Corning. Last summer, the company's shares rose 2.9%, which might sound fine, until you realize the S&P 500 gained 7.4% last summer. Corning's worst summer was the summer of 2011, which shares dropped 30.1% while the S&P 500 fell just 12.3.
Don't worry too, much, though. Despite the summer's horrible reputation the past five summers haven't been dismal. The average gain of summers the past five years is 4.2%, and that includes the 12% decline in the summer of 2011. And certainly, there are stocks that buck the summer doldrums and do just fine.
The summer's bad rap is so overblown that one of the summer's consistently lagging stocks, computer chipmaker Analog Devices, posted an average summer gain of 1.4% over the past five years despite trailing the market each and every year.
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