For Best Performance, The Envelope, Please...

From sneakers to air bags and takeovers to bankruptcies, this year's successes tended to have coherent visions of the future, while the failures stemmed from flying too close to the sun. We limited stocks to those that began the year at a minimum of $5 a share. Here, in all their shame and glory as of Dec. 9, are the winners and losers of 1994.

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