Adobe and 12 Other Stocks That Could Bounce Back In November

Birkenstock sandals at a store in California. The company’s stock is down 28% this year. (Ethan Swope / Getty Images)

Key Points

• Mutual funds often concentrate tax-loss selling in October, aiming to offset capital gains before their fiscal year ends.
• Stocks in the worst-performing quintile of the Russell 3000 from January to October have historically rebounded by 2.7% on average in November.
• Evercore ISI identified several Russell 3000 stocks, including Accenture and Adobe, as potential rebound candidates for November.

A key part of tax-loss selling season is nearly over. That means some beaten-down stocks that have endured a double-whammy of selling pressure could soon bounce back.

As year end approaches in a bull market, investors often sell underwater stocks, aiming to realize a capital loss, which they can use to offset gains, heading off a potential tax bill. While it happens throughout the fourth quarter, mutual funds often concentrate their selling in October, since many have an Oct. 31 fiscal year.

For struggling stocks, tax loss season can make a bad year worse. Extra selling pressure tends to amplify price declines as large investors unload shares. The silver lining: price can pop once temporary selling subsides.

Since 1990, stocks in the worst-performing quintile of the Russell 3000 during the first 10 months of year tended to bounce back in November, returning 2.7% on average, according to a note Monday by Evercore ISI. To put that in context, the average monthly return across the Russell 3000 is only about 1%, according to Dow Jones Markets Data.

To find out which stocks might benefit next month, Evercore ISI screened for Russell 3000 stocks that were in the lowest 25th percentile of performance in 2025; had current share prices that were also in the lowest 25th percentile, relative to their average 2025 share prices; and which looked attractively valued, based on Evercore’s analysis.

To help you find ones that might also be solid long-term investments, we’ve narrowed the list ones that the firm rates “outperform.”

Tax-loss target stocks that could pop in November:

Accenture / ACN

Market cap: $157 billion

Ytd. Return: -26%

Stock price: $254

Adobe / ADBE

Market cap: $151 billion

Ytd. Return: -23%

Stock price: $341

Comcast / CMCSA

Market cap: $108 billion

Ytd. Return: -20%

Stock price: $29

Constellation Brands / STZ

Market cap: $23 billion

Ytd. Return: -39%

Stock price: $133

Alexandria Real Estate / ARE

Market cap: $11 billion

Ytd. Return: -36%

Stock price: $60

Baxter International / BAX

Market cap: $12 billion

Ytd. Return: -20%

Stock price: $23

Akamai Technologies / AKAM

Market cap: $11 billion

Ytd. Return: -22%

Stock price: $74

BioMarin Pharmaceutical / BMRN

Market cap: $10 billion

Ytd. Return: -19%

Stock price: $53

Algin Technology / ALGN

Market cap: $9.7 billion

Ytd. Return: -36%

Stock price: $134

Molson Coors Beverage / TAP

Market cap: $8.5 billion

Ytd. Return: -21%

Stock price: $44

Birkenstock Holding / BIRK

Market cap: $7.7 billion

Ytd. Return: -28%

Stock price: $41

Ryman Hospitality Properties / RHP

Market cap: $5.5 billion

Ytd. Return: -13%

Stock price: $88

Alaska Air Group / ALK

Market cap: $5 billion

Ytd. Return: -34%

Stock price: $42

Write to Ian Salisbury at ian.salisbury@barrons.com