Investors may get ahead of mutual funds booking their tax-loss selling with the October 31, 2024 year-end approaching.
In the healthcare sector, consider selling Humana (HUM). The stock fell as low as $213.31 before buyers bought the dip. However, the company said on Oct. 2 that 1.6 million members enrolled in its plans rated four stars and above. This accounts for 25% of memberships, compared with nearly 94% in 2024.
Known best for its Covid vaccine, Moderna (MRNA) could continue finding new lows through the rest of this month. The company attracted bears who hold a 7% short interest on the stock. It cut its research and development budget, which indicates a worsening pipeline. This limits Moderna’s future revenue potential while existing Covid vaccine sales weaken.
In the energy sector, funds may sell PBF Energy (PBF) and Apache (APA). Without stronger crude prices, energy stocks may not rebound this year.
New York Community Bancorp (NYCB) is the regional bank that should consider reducing. The firm increased its reserves by $267 million and took a $430 million charge.
In the consumer staples sector, consider selling Dollar General (DG) and Dollar Tree (DLTR). Dollar stores are struggling as consumers cut spending. Consider exiting Walgreens Boots Alliance (WBA). Conversely, CVS Health (CVS) looks attractive at these levels.
