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 (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 (PIR) is the second best performing stock with a gain of 413%, followed by Borders Group (BGP) (397%), Ruby Tuesday (RT) (391%), and Dendreon (DNDN) (345%). Other notables on the list include Sirius (SIRI), Palm (PALM), and Smith & Wesson (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.