While the Russell 3,000 index is down 5.18% year to date, the average stock in the index is actually up 0.41%. Below we highlight the 30 best and worst performing stocks in the index so far in 2009.
The Providence Service Corp (NASDAQ:PRSC) is the top performing stock in the Russell 3,000 year to date with a gain of 561%! Based on its profile, a Democratic-led government can't get any sweeter for the company:
Providence Service Corporation provides privatized social services to individuals and families. The company's services are reimbursed by government programs such as welfare, juvenile justice, Medicaid or corrections.
Retailer Pier 1 Imports (NYSE:PIR) is the second best performing stock with a gain of 413%, followed by Borders Group (BGP) (397%), Ruby Tuesday (NYSE:RT) (391%), and Dendreon (NASDAQ:DNDN) (345%). Other notables on the list include Sirius (NASDAQ:SIRI), Palm (PALM), and Smith & Wesson (NASDAQ:SWHC). All of the stocks on the winners list are up more than 100%, and there are a total of 59 stocks in the Russell 3,000 up more than 100% year to date. These are big momentum names at the moment, so investors who believe in the current rally may want to take a closer look at the best performers.
Corus Bankshares (CORS) is the worst performing stock in the Russell 3,000 year to date with a decline of 78%. While there are 59 stocks up more than 100% so far this year, there are also 120 stocks that are down 50% or more. And even though the average stock in the index is up 0.41%, only 41% of stocks in the index are up year to date.