“At one time (like the 1960’s) hey were considered blue companies and had reliable earnings and dividends.
IBM was called “Big Blue”!”
Well run companies don’t go bankrupt.
As the CEO group changes, or the product produced becomes obsolete, even well run companies hit bumps.
I can bet a latte at starbux, every stock on NYSE will be down 20% for at least for a short period in the next 4 years.