Investors Losing All Their Blue Chips

So called blue-chip stocks have struggled mightily over the last year.  The total loss in market cap from their 52-week highs for stocks in the S&P 100 (largest 100 S&P stocks by market cap) is now $2.5 trillion.  Below we highlight stocks in the index that are the furthest from their 52-week highs, as well as the loss in market cap from their 52-week highs.  As shown, GM is 75% from its 52-week high, Lehman is 72.4%, and Wachovia is 71.7%. 

Looking at market cap, GM has lost $18 billion (it is now worth a little more than $6 billion), which ranks it 42nd in terms of losses.  General Electric has lost the most in market cap at -$168 billion.  Citigroup (C) isn't far behind GE at -$167 billion.  BAC, AIG and MSFT round out the top 5 in terms of market cap losses. 

Investors that have purchased blue-chip stocks expecting them to hold up well during the downturn are looking at their statements and only seeing red chips.

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