Stocks And Sectors With The Biggest Declines

Sep. 28, 2022 11:56 PM ETMSFT, GOOG, GOOGL, META, AMZN, AAPL, NVDA, TSLA, NFLX, JPM, HD, ADBE, PYPL, BAC, NKE, CRM, ACN, CSCO, INTC, DIS, CMCSA, AVGO, V, PFE, BRK.A, BRK.B, AMD, CVNA, PTON, AFRM, W, RNG, ASAN, TXG, U, ROKU, TDOC, COIN, KD, APP, MQ, DNA, DOCU, TWLO, RIVN, OKTA, DASH, SQ, HOOD, SOFI, WE, QS, PATH, STNE, MSTR, CFLT, COUP, LYFT, AMC, PEGA, NET, LCID, TOST7 Comments
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Summary

  • The average stock in the Russell 3,000 was down 41.7% from its 52-week high as of the close on Monday.
  • Four sectors have average prices roughly 50% below their 52-week highs - Communication Services at -51.8%, Consumer Discretionary at -49.8%, Tech at -49.4%, and Health Care at -48.4%.
  • Across the entire Russell 3,000, we’ve seen more than $13 trillion in market cap erased, and there have been five individual stocks that have seen their market caps fall by more than $500 billion - Microsoft, Alphabet, Meta, Amazon, and Apple.

Financial crisis chart. 3D abstract diagram with arrow

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The average stock in the Russell 3,000 was down 41.7% from its 52-week high as of the close on Monday. That means the average stock would need to rally 71.5% from here to get back to its high. It’s much worse in some sectors, though. As shown below, four sectors have average prices roughly 50% below their 52-week highs. Communication Services is at -51.8%, Consumer Discretionary is at -49.8%, Tech is at -49.4%, and Health Care is at -48.4%. Even Energy stocks are 36.9% below their 52-week highs.

Average distance from 52-week high by sector, in percentage

Average Distance From 52-Week High (%) By Sector: Russell 3000 (Author)

Below is a look at the stocks that have seen the biggest drops in market cap since the end of 2021. Across the entire Russell 3,000, we’ve seen more than $13 trillion in market cap erased, and there have been five individual stocks that have seen their market caps fall by more than $500 billion - Microsoft (MSFT), Alphabet (GOOGL), Meta (META), Amazon (AMZN), and Apple (AAPL). There have been 18 stocks that have seen market cap fall by more than $100 billion, including names like Tesla (TSLA), JPMorgan (JPM), Home Depot (HD), Nike (NKE), Intel (INTC), and Cisco (CSCO). Five of the names on this list are down 60% from 52-week highs: META, NVDA, NFLX, ADBE, and PYPL. This is just true carnage in equities unlike anything we’ve seen since the Financial Crisis or the dotcom bust.

Biggest market cap losers in Russell 3000 since December 12, 2021

Biggest Market Cap Losers In Russell 3000 Since December 12, 2021 (Author)

If you want to see even more pain, below is a list of Russell 3,000 stocks with market caps still above $2 billion that are down more than 75% from their 52-week highs. These stocks collectively add up to just $300 billion in market cap at this point, and their market caps are down about $680 billion since the end of 2021.

Carvana (CVNA) and Peloton (PTON) are the only members of the “down 90%+” club, while stocks like Affirm (AFRM), Wayfair (W), RingCentral (RNG), Unity Software (U), Roku (ROKU), and Teladoc (TDOC) are down more than 80%. The list below is basically a “who’s who” of widely traded growth stocks that saw huge gains post-COVID only to give it all back over the last year.

$2 billion market cap stocks down 75 percent from highs

$2 Billion Market Cap Stocks Down 75% From Highs (Author)

Original Post

Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.

This article was written by

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