Axsome Therapeutics Stock Extends An 11-Day Losing Streak To A 14% Loss
Axsome Therapeutics (AXSM) stock is on an 11-day losing streak, down 14.1% since the run began. That erased about $1.4 billion from the company’s market value, which now stands at about $8.7 billion. The stock closed at $168.35 on Friday, October 9, 34.0% below its 52-week high of $255.17 and 39.0% above its low of $121.15.
The Streak Next To The S&P 500
Returns for AXSM and the S&P 500 over the streak and the periods around it, all ending Friday, October 9 and including dividends:
| Return Period | AXSM | S&P 500 |
|---|---|---|
| 1 Day | -1.0% | 0.6% |
| 11 Days (Current Streak) | -14.1% | 1.4% |
| 1 Month (21 Trading Days) | -20.3% | 3.0% |
| 3 Months (63 Trading Days) | -26.3% | 4.2% |
| Year To Date | -7.8% | 15.1% |
| 1 Year (252 Trading Days) | 41.8% | 17.0% |
Is This Move About Axsome Therapeutics Or The Market?
The market explains little of this: the S&P 500 gained 1.4% over the same 11 sessions, including dividends, against Axsome Therapeutics’ -14.1%. Over the past three months the stock is down 26.3%, a window that includes the streak; over the other 52 sessions of that window it was down 14.1%.
Is The Business As Weak As The Stock?
On the fundamentals, revenue grew 56.9% over the last twelve months, against a median of 8.1% for S&P 500 Health Care stocks; and its operating margin is -23.5%, versus a median of 17.6%. Axsome Therapeutics does not have positive trailing earnings, so there is no meaningful price-to-earnings multiple to compare. The fundamentals give the sellers some support: an operating loss.
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A Slide Like This Is Why Diversification Exists
Watching one stock fall day after day is the clearest lesson the market teaches about single-name risk. Whether this particular decline is an opportunity or a warning, the deeper point is the same: no one name should be able to do this to your portfolio.
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