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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 |
PDD, |
-75.9% | 04/28/2021 | -2.1% | -40.2% | -67.2% |
| Zoom Video Communications Inc. Class A |
ZM, |
-75.8% | 07/07/2021 | -4.0% | -46.5% | -45.5% |
| DocuSign Inc. |
DOCU, |
-73.2% | 08/10/2021 | -6.2% | -44.6% | -31.5% |
| PayPal Holdings Inc. |
PYPL, |
-73.0% | 07/26/2021 | -4.6% | -55.6% | -19.5% |
| Netflix Inc. |
NFLX, |
-71.7% | 11/17/2021 | -5.5% | -67.1% | 11.4% |
| Moderna Inc. |
MRNA, |
-70.7% | 08/10/2021 | -3.1% | -42.6% | 143.1% |
| Lucid Group Inc. |
LCID, |
-69.5% | 11/17/2021 | -8.7% | -53.6% | 280.1% |
| Etsy Inc. |
ETSY, |
-67.5% | 11/26/2021 | -1.9% | -54.3% | 23.1% |
| EPAM Systems Inc. |
EPAM, |
-63.5% | 11/05/2021 | -5.4% | -60.4% | 86.5% |
| Penn National Gaming Inc. |
PENN, |
-61.9% | 04/27/2021 | -4.3% | -29.2% | -40.0% |
| IPG Photonics Corp. |
IPGP, |
-60.4% | 04/27/2021 | -4.4% | -46.2% | -23.1% |
| Ceridian HCM Holding Inc. |
CDAY, |
-56.9% | 11/03/2021 | -4.1% | -46.2% | -2.0% |
| Match Group Inc. |
MTCH, |
-56.3% | 10/21/2021 | -3.7% | -39.9% | -12.5% |
| Generac Holdings Inc. |
GNRC, |
-56.1% | 11/02/2021 | -6.3% | -34.7% | 54.8% |
| Biogen Inc. |
BIIB, |
-55.8% | 06/07/2021 | -3.5% | -13.7% | -2.0% |
| Okta Inc. Class A |
OKTA, |
-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. |
ALGN, |
-51.0% | 09/23/2021 | -2.0% | -45.0% | 23.0% |
| Wynn Resorts Ltd. |
WYNN, |
-50.1% | 06/02/2021 | -5.5% | -19.8% | -24.6% |
| Atlassian Corp. PLC Class A |
TEAM, |
-49.7% | 10/29/2021 | -4.2% | -36.3% | 63.0% |
| Charles River Laboratories International Inc. |
CRL, |
-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.
