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

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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, -2.59% and other broad indexes, as of 11:40 a.m. 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, -1.04% 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, -3.11% 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, -3.17%. )

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, -24.70% -24.6% -56.8% -79% 08/10/2021
Etsy Inc. ETSY, -8.57% -8.2% -65.2% -75% 11/26/2021
Moderna Inc. MRNA, -6.68% -5.9% -50.4% -75% 08/10/2021
PayPal Holdings Inc. PYPL, -6.19% -6.3% -58.2% -75% 07/26/2021
Netflix Inc. NFLX, -4.58% -4.7% -69.5% -74% 11/17/2021
Zoom Video Communications Inc. Class A ZM, -0.71% -2.5% -41.5% -74% 07/07/2021
Lucid Group Inc. LCID, -3.71% -4.2% -52.5% -69% 11/17/2021
Okta Inc. Class A OKTA, -4.13% -5.9% -60.2% -68% 09/03/2021
Align Technology Inc. ALGN, -2.00% -3.5% -61.4% -66% 09/23/2021
MercadoLibre Inc. MELI, -6.91% -7.4% -48.6% -65% 09/02/2021
Carnival Corp. CCL, -5.67% -5.4% -44.9% -65% 06/09/2021
Under Armour Inc. Class A UAA, -3.42% -4.1% -52.4% -63% 11/19/2021
Penn National Gaming Inc. PENN, -5.72% -5.4% -38.1% -63% 09/08/2021
Atlassian Corp. PLC Class A TEAM, -6.35% -7.1% -52.3% -62% 10/29/2021
Caesars Entertainment Inc. CZR, -8.89% -8.1% -50.7% -62% 10/01/2021
Illumina Inc. ILMN, -10.17% -9.6% -46.6% -61% 08/16/2021
Norwegian Cruise Line Holdings Ltd. NCLH, -4.73% -4.5% -36.7% -61% 06/09/2021
Zscaler Inc. ZS, -4.48% -5.6% -52.9% -60% 11/19/2021
Ceridian HCM Holding Inc. CD, -4.12% -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, -24.70%, also the worst performer on June 10 after the company lowered its billings outlook. Analysts then downgraded the stock.

This article was originally published by Marketwatch.com. Read the original article here.

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