Advanced Micro Devices ripped higher by more than 85 percent until mid-September, peaking at $34.14 a share. AMD was riding high on gains in the computer chip market until the company gave a weaker-than-expected outlook for the fourth quarter of this year.
TripAdvisor and Red Hat were the only two 2018 winners to also buck the recent trend, gaining 4.9 percent and 28.1 percent this quarter, respectively. TripAdvisor reported consistently improving earnings throughout the year, boosted by its growing non-hotel business. IBM announced plans in October to acquire Red Hat in cash at $190 a share, a 60 percent premium from Red Hat’s stock price when the deal was revealed.