These 19 big tech stocks have now dropped at least 60% from their 52-week highs

The latest inflation figures on June 10 were worse than expected and the effect on stock prices was brutal. A list of stocks in the S&P 500 and the Nasdaq-100 Index that have fallen at least 60% from 52-week highs is below.

The consumer-price index report for May from the Bureau of Labor Statistics came in much worse than expected, with a 1% increase in prices during the month and a year-over-year CPI increase of 8.6% – a new 40-year record .

Hand-in-hand with the inflation report was a record-low figure for the University of Michigan’s Consumer Sentiment Index.

Weak consumer sentiment points to the weakest stock sector

Here’s a summary of performance for the 11 sectors of the S&P 500 SPX,
-2.68%
and other broad indexes, as of 11:40 am ET on June 10:

Index

Price change – June 10

Price change – 2022

Decline from 52-week intraday high

Date of 52-week intraday high

Consumer Discretionary

-4.3%

-30%

-33%

11/19/2021

Information Technology

-3.7%

-25%

-26%

12/27/2021

Financials

-3.6%

-17%

-22%

01/12/2022

Materials

-3.1%

-10%

-10%

12/31/2021

Communication Services

-3.0%

-28%

-33%

09/01/2021

Industrials

-3.0%

-14%

-15%

01/04/2022

Energy

-2.4%

57%

-5%

06/08/2022

Real Estate

-1.8%

-20%

-20%

12/31/2021

Health Care

-1.7%

-11%

-12%

04/08/2022

Utilities

-0.8%

-1%

-8%

04/08/2022

Consumer Staples

-0.4%

-7%

-12%

04/20/2022

S&P 500

-2.9%

-18%

-19%

01/04/2022

Dow Jones Industrial Average

-2.5%

-13%

-15%

01/05/2022

Nasdaq Composite Index

-3.6%

-28%

-30%

11/22/2021

Nasdaq-100 Index

-3.6%

-28%

-29%

11/22/2021

Source: FactSet

All 11 sectors of the S&P 500 were down for the day.

The only sector with a positive return in 2022 has been energy, with a 57% gain as the price of West Texas Crude Oil CL.1,
-0.76%
has risen 59%, based on continuous forward-month prices compiled by FactSet.

Stocks down at least 60% from their 52-week highs

To take a broader look at large companies suffering the biggest share price declines, we added the components of the Nasdaq-100 Index NDX,
-3.34%
to the S&P 500 for a list of 519 companies after removing duplicates. (The Nasdaq-100 includes the largest 100 nonfinancial companies, by market capitalization, in the full Nasdaq Composite Index COMP,
-3.39%.
)

Within that enlarged group, these 19 stocks have dropped at least 60% from their 52-week highs:

Company

Ticker

Price change – June 10

Price change – 2022

Decline from 52-week high

Date of 52-week intraday high

DocuSign Inc.

DOCU,
-24.64%

-24.6%

-56.8%

-79%

08/10/2021

Etsy Inc.

ETSY,
-9.17%

-8.2%

-65.2%

-75%

11/26/2021

Moderna Inc.

MRNA,
-6.98%

-5.9%

-50.4%

-75%

08/10/2021

PayPal Holdings Inc.

PYPL,
-6.53%

-6.3%

-58.2%

-75%

07/26/2021

Netflix Inc.

NFLX,
-4.65%

-4.7%

-69.5%

-74%

11/17/2021

Zoom Video Communications Inc. Class A

ZM,
-1.71%

-2.5%

-41.5%

-74%

07/07/2021

Lucid Group Inc.

LCID,
-4.18%

-4.2%

-52.5%

-69%

11/17/2021

Okta Inc. Class A

OKTA,
-4.97%

-5.9%

-60.2%

-68%

09/03/2021

Align Technology Inc.

ALGN,
-2.33%

-3.5%

-61.4%

-66%

09/23/2021

MercadoLibre Inc.

MELI,
-7.57%

-7.4%

-48.6%

-65%

09/02/2021

Carnival Corp.

CCL,
-5.22%

-5.4%

-44.9%

-65%

06/09/2021

Under Armor Inc. Class A

UAA,
-3.04%

-4.1%

-52.4%

-63%

11/19/2021

Penn National Gaming Inc.

PENN,
-5.81%

-5.4%

-38.1%

-63%

09/08/2021

Atlassian Corp. PLC Class A

TEAM,
-6.93%

-7.1%

-52.3%

-62%

10/29/2021

Caesars Entertainment Inc.

CZR,
-9.55%

-8.1%

-50.7%

-62%

10/01/2021

Illumina Inc.

ILMN,
-10.01%

-9.6%

-46.6%

-61%

08/16/2021

Norwegian Cruise Line Holdings Ltd.

NCLH,
-4.43%

-4.5%

-36.7%

-61%

06/09/2021

Zscaler Inc.

ZS,
-5.15%

-5.6%

-52.9%

-60%

11/19/2021

Ceridian HCM Holding Inc.

CD,
-4.33%

-4.6%

-49.7%

-60%

11/03/2021

Click on the tickers for more about each company.

Then read Tomi Kilgore’s detailed guide to the wealth of information for free on the MarketWatch quote page.

The stock that was down the most from its 52-week high was DocuSign Inc. DOCU,
-24.64%,
also the worst performer on June 10 after the company lowered its billings outlook. Analysts then downgraded the stock.

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