Three CAC 40 Losers in 2026: Should You Profit from the Dip?

In 2026, certain stocks experienced sharp corrections in the stock market, starting with Stellantis, which shows a decline of nearly 50% and holds the top spot in our Flop 3 CAC 40 stocks of 2026.

The EssilorLuxottica share comes in second place with a drop of 44.8%, while LVMH completes this ranking with a retreat of 33.5%. Automotive, optics and luxury: three different sectors, with reasons sometimes very different to explain these stock market declines.

But a sharp decline does not necessarily mean that a stock should be avoided in the market. It can also reveal valuation levels more attractive for investors who want to profit from the fall in share prices of major CAC 40 values.

Discover our detailed analysis and our opinion on Stellantis stock, EssilorLuxottica stock and LVMH stock. Should you avoid these CAC 40 names in 2026 or, on the contrary, take advantage of their correction to invest in the stock market?

The 3 CAC 40 stocks with the largest decline in 2026

Our ranking is based on the evolution of stock prices since January 1st, 2026, excluding dividends. But beyond the displayed performances, these three large declines should not be interpreted in the same way. A fall in share price can reflect a real deterioration of fundamentals, a valuation that has become too demanding, or a sudden change in investors’ expectations.

That is precisely what Stellantis, EssilorLuxottica, and LVMH illustrate. Stellantis stock continues a negative trend already underway in 2025, while EssilorLuxottica shifts from a stock market gain of 18.5% in 2025 to a drop of 44% this year. The case of LVMH is even different: its +1.5% performance in 2025 masks a particularly volatile year, while 2026 is clearly negative for LVMH.

Comparing 2025 and 2026 thus helps to better understand each value’s trajectory in the market before analyzing whether their sharp decline constitutes a warning signal or, possibly, an opportunity to re-enter the name by the end of 2026.

Evolution of the performance of Stellantis, EssilorLuxottica and LVMH shares in 2025 and 2026

We now take the time to analyze in detail these three CAC 40 companies that have underperformed the most since January 1st, 2026.

The elements presented in this ranking are provided for informational and educational purposes only. They do not constitute investment advice or a recommendation to buy or sell securities. Finally, we remind that past performance is not indicative of future results and that any investment in the stock market carries a risk of capital loss.

Stellantis stock: -49% in 2026

The drop in Stellantis stock in 2026 (-49%) extends the trend from a 2025 that was already difficult for the automaker. The Stellantis share was notably penalized by the group’s heavy losses, the revision of its electric strategy, and the suspension of the dividend. The results of the second quarter 2026 show, however, an improvement in the situation, even if profitability remains weak and several uncertainties continue to weigh on Stellantis’ stock price.

The reasons behind the decline in Stellantis stock in 2026

• Significant losses: net loss of €22.3 billion recorded in 2025, notably due to massive exceptional charges.
• Strategic shift in the electric lane: revision of the group’s ambitions and substantial impairments related to certain projects and electric platforms.
• Dividend suspension: Stellantis decided not to pay a dividend in 2026 to preserve its balance sheet.
• Still fragile profitability: despite improvement in 2026, the current operating margin reached only 1.8% in Q2, while tariffs are expected to represent a net impact of €1 to €1.2 billion for the year.

How far can Stellantis stock fall by end-2026? Our view and technical analysis

From a chartist perspective, Stellantis stock remains in a long-term downtrend, evidenced by several downward trendlines that have accompanied the stock’s decline from its late-2025 highs. A stabilization attempt appears around the €4.40 zone, which currently constitutes the main support to defend.

In the short term, a potential uptick should first allow Stellantis to break through the various downward-sloping trend lines. The €5.30–€5.50 zone will be an interesting first step, followed by an intermediate resistance around €6.50.

But in our view, the decisive level remains that of €7.40. Its breach would allow a more substantial exit from the current bearish structure and would constitute a much stronger signal in favor of a trend reversal. Beyond that, the €8.90 and then €10.40 would represent the next major resistance levels.

Conversely, a break of the €4.40 support would significantly undermine Stellantis’ current rebound scenario.

Chart analysis of Stellantis stock

Should you avoid Stellantis stock or re-enter in 2026? Café de la Bourse view

In our view, it is still too early to seriously re-enter Stellantis stock, even though the share’s decline makes its market valuation much more attractive. The recovery is beginning to show in results, with revenue up 13% in Q2 2026 and a return to profits, but the margin of 1.8% remains weak.

Technically, the trend remains bearish on Stellantis stock and we would especially watch the €7.40 level, whose breach would be a encouraging sign. We would therefore prefer to wait for more confirmations. A more aggressive investor could nonetheless start building a small position around the current supports, accepting a high level of risk.

EssilorLuxottica stock: -44% in 2026

The drop in EssilorLuxottica stock in 2026 (-44%) contrasts strongly with the group’s operational performance. Growth remains solid, driven notably by connected glasses and myopia-control solutions. But after several years of strong stock price growth, investors are now much more demanding on the group’s valuation and the profitability of its new growth levers.

The reasons behind EssilorLuxottica’s decline in 2026

• High valuation: after several years of rising stock price, EssilorLuxottica displayed a demanding valuation, leaving little room for disappointments.
• Profitability of connected glasses: the commercial success of Ray-Ban Meta comes with questions about their margins, lower than those of some historic activities.
• Technological competition: the potential entry of new players into smart glasses fuels concerns about the group’s ability to maintain its lead.
• Governance tensions: Leonardo Del Vecchio’s departure from operational duties, amid disagreements with CEO Francesco Milleri, added a new source of uncertainty around the group’s strategy.
• Very high expectations: despite a 9.7% revenue growth in H1 2026 and a 15% rise in adjusted operating income, the market now expects durable confirmation of growth and profitability from the new businesses.

How far can EssilorLuxottica stock fall by end-2026? Our view and technical analysis

From a chartist perspective, EssilorLuxottica stock remains enclosed in a large downtrend channel begun late 2025, with a succession of lower highs and lower lows. The EssilorLuxottica ticker is currently testing the €150 zone, which constitutes the first resistance to break to hope for a rebound in the stock market. A break that could coincide with an exit from the downward trend channel, which would be a double positive signal.

On the upside, the level of €177 constitutes, in our view, the most important resistance to monitor. Its breach, possibly with a brief rebound to the top of the downward trend channel, would provide a first serious signal of a trend reversal. The next targets would then be to reclaim €208, then €257, before potentially aiming for the region of €315, near the former highs.

For now, the trend remains clearly bearish on EssilorLuxottica and calls for caution.

Chart analysis of EssilorLuxottica stock

Should you avoid EssilorLuxottica stock or re-enter in 2026? Café de la Bourse view

EssilorLuxottica stock appears to us to be the pick of our 2026 Flop 3 where the stock price decline contrasts most with the strength of the fundamentals. Growth remains solid and the new growth drivers, notably connected glasses, offer interesting prospects, even if their profitability and governance tensions warrant caution. The main restraint remains, in our view, technical: EssilorLuxottica is still moving within a powerful downtrend channel.

We would therefore prefer to wait for durable stabilization and specifically monitor the €177 level, whose breach would noticeably improve the setup. For a long-term investor, a gradual entry remains feasible at current levels, provided one is willing to accept potentially substantial volatility. Implementing a DCA strategy via an investment plan would then be strongly recommended.

LVMH stock: -33% in 2026

2026 is again a challenging year in the stock market for LVMH. The LVMH share has fallen 33% since January 2026, even though the latest results are not that bad. The second quarter 2026 even brought some signs of improvement. The market remains wary, especially given a luxury rebound that still struggles to convince.

The reasons behind LVMH’s decline in 2026

• Rebound still fragile in luxury: despite an improvement in Q2, investors remain cautious about the strength and sustainability of the rebound in global demand.
• Apparel and Leather Goods under pressure: sales of this strategic division still fall 1% on an organic basis in H1 2026, despite a return to a slight growth of 1% in Q2.
• Unfavorable exchange rate effect: LVMH’s reported revenue falls by 3% in the first half, notably due to a negative 5% impact from currencies.
• Results still under pressure: current operating income falls 4% to €8.7 billion in H1 2026, despite an operating margin still high at 22.5%.

How far can LVMH stock fall by end-2026? Our view and technical analysis

From a chartist perspective, LVMH stock is currently in a decisive zone, with a major support around €427. After several months of decline, LVMH stock seems to be attempting a rebound at this level, but this still needs to be confirmed. The long-term trend remains bearish for now and the path back to the former highs will likely be long.

Several resistances will need to be breached before a genuine trend reversal can be spoken of. Rather than anticipating an immediate return to the highs, it seems more sensible to proceed step by step:

• €427: major support currently tested
• €443 and €497: the first resistances to regain
• €526: important resistance
• €560: major resistance level
• €640: zone of the old highs and long-term objective.

Conversely, a clean break of €427 would constitute a negative signal and could push LVMH stock to levels not seen since 2020.

Chart analysis of LVMH stock

Should you avoid LVMH stock or re-enter in 2026? Café de la Bourse view

After a 33% decline, LVMH stock, in our view, begins to attract interest for a long-term investor. The fundamentals remain solid, with an operating margin of 22.5%, while the improvement observed in Q2 provides an encouraging signal for the luxury sector.

Technically, however, the LVMH stock is working a major support around €427 and the trend remains fragile as long as the initial resistances are not regained. We would therefore favor a gradual construction of the position rather than a large one-off investment. This scenario should be reconsidered if there is a durable break of €427 or a renewed deterioration of luxury prospects.

How to invest in the FLOP 3 CAC 2026 in practice?

It is possible to invest directly in Stellantis, EssilorLuxottica, or LVMH stock through several stockbrokers such as Saxo Bank, Freedom24, eToro, XTB, ProRealTime with Interactive Brokers, or Trade Republic. Depending on the broker and the offered package, you can invest directly in shares, sometimes from small amounts thanks to fractional shares, or even set up programmed investments.

But this Flop 3 also perfectly illustrates one of the main risks of stock picking: selecting a few companies and hitting precisely those that underperform. For an investor who does not want to pick stocks themselves, investing in a CAC 40 ETF provides exposure to the entire stock index and immediately diversifies the investment across its various constituents. Several online brokers provide access to ETFs, sometimes with no-fee offers under certain conditions, such as Saxo Bank on a selection of ETFs, XTB up to €100,000 of monthly transactions, or Bourse Direct on a selection of Amundi ETFs.

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Past performances do not guarantee future results. Investing in stocks involves a risk of capital loss.

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