By Stocks soured on April 26, with major declines for broad indexes that underlined what a difficult year it has been, so far, for technology stocks.
Below is a list of 21 large-cap stocks that have dropped at least 50% from their 52-week highs.
The trading action for the indexes took a turn for the worse ahead of a slew of earnings announcements for major tech companies.
The Dow Jones Industrial Average
DJIA,
-2.38%
fell 809 points (or 2.4%) on Tuesday to close at 33,240 points. The Dow has now declined 8.5% for 2022 and 10% from its intraday high set on Jan. 5. (All price changes in this article exclude dividends.)
The benchmark S&P 500 Index
SPX,
-2.81%
was down 2.8% for the session. It has fallen 12.4% year-to-date and 13.4% from its intraday high on Jan. 4.
The worst-performing stock in the S&P 500 was Tesla Inc.
TSLA,
-12.18%,
which sank 12.2%. Shares of Tesla have now declined 17.1% in 2022 and are down 29.5% from their intraday high on Nov. 4. Tuesday’s decline followed an agreement on April 25 for Twitter Inc.
TWTR,
-3.91%
to be acquired by Tesla CEO Elon Musk for $44 billion in cash.
The Nasdaq Composite Index
COMP,
-3.95%
dropped 4% and is now down 20.2% for 2022 and 23% from its intraday high, which was set on Nov. 22.
The Nasdaq-100 Index
NDX,
-3.87%
slipped 3.9%. It has fallen 20.3% this year and is down 22.4% from its intraday high on Nov. 22. (The Nasaq-100 is made up of the largest non-financial stocks in the Nasdaq Composite Index. It is therefore heavily weighted toward technology stocks. It is tracked by the Invesco QQQ Trust
QQQ,
-3.77%.
)
Tech stocks suffer biggest declines
Combining the S&P 500 and the Nasdaq-100 and removing duplicates produces a list of 519 stocks and American depositary receipts listed on U.S. exchanges.
Among these 519 stocks, 21 have fallen 50% or more from their 52-week intraday highs:
Company
Ticker
Decline from 52-week high
Date of 52-week intraday high
Price change – April 26
Price change – 2022
Price change – 2021
Pinduoduo Inc. ADR Class A
-75.9%
04/28/2021
-2.1%
-40.2%
-67.2%
Zoom Video Communications Inc. Class A
-75.8%
07/07/2021
-4.0%
-46.5%
-45.5%
DocuSign Inc.
-73.2%
08/10/2021
-6.2%
-44.6%
-31.5%
PayPal Holdings Inc.
-73.0%
07/26/2021
-4.6%
-55.6%
-19.5%
Netflix Inc.
-71.7%
11/17/2021
-5.5%
-67.1%
11.4%
Moderna Inc.
-70.7%
08/10/2021
-3.1%
-42.6%
143.1%
Lucid Group Inc.
-69.5%
11/17/2021
-8.7%
-53.6%
280.1%
Etsy Inc.
-67.5%
11/26/2021
-1.9%
-54.3%
23.1%
EPAM Systems Inc.
-63.5%
11/05/2021
-5.4%
-60.4%
86.5%
Penn National Gaming Inc.
-61.9%
04/27/2021
-4.3%
-29.2%
-40.0%
IPG Photonics Corp.
-60.4%
04/27/2021
-4.4%
-46.2%
-23.1%
Ceridian HCM Holding Inc.
-56.9%
11/03/2021
-4.1%
-46.2%
-2.0%
Match Group Inc.
-56.3%
10/21/2021
-3.7%
-39.9%
-12.5%
Generac Holdings Inc.
-56.1%
11/02/2021
-6.3%
-34.7%
54.8%
Biogen Inc.
-55.8%
06/07/2021
-3.5%
-13.7%
-2.0%
Okta Inc. Class A
-54.7%
04/27/2021
-6.3%
-42.1%
-11.8%
Meta Platforms Inc. Class A
FB
-52.9%
09/01/2021
-3.2%
-46.2%
23.1%
Align Technology Inc.
-51.0%
09/23/2021
-2.0%
-45.0%
23.0%
Wynn Resorts Ltd.
-50.1%
06/02/2021
-5.5%
-19.8%
-24.6%
Atlassian Corp. PLC Class A
-49.7%
10/29/2021
-4.2%
-36.3%
63.0%
Charles River Laboratories International Inc.
-49.7%
09/24/2021
-8.6%
-38.5%
50.8%
Source: FactSet
Click on the tickers for more about each company.
You should also read Tomi Kilgore’s detailed guide to the wealth of information for free on the MarketWatch quote page.
