The worst-performing shares in the S&P 500 include a few familiar names, including Meta, AMD, Paypal, Nvidia, Netflix, and Tesla.
Many investors see this as a justified collapse in overhyped stock, while others see it as a perfect time to load up on their favourite companies at killer discounts.
The worst performer is Meta, formerly known as Facebook, which is down 72.5% year-to-date.
Part of the problem is CEO Mark Zuckerburg, who has thrown caution – and cost controls – to the wind in pursuit of his metaverse dream.
It must be difficult to concede failure and re-think your strategy when you have renamed your entire company after a prospective product.
In second place is Align Technology, a company that specializes in manufacturing 3D digital scanners and Invisalign clear aligners used in orthodontics to improve traditional braces.
It is a revolutionary technology that was recently demonstrated by Willem van der Post at the MorningStar Investment Conference.
Van der Post is the founder of the venture capital firms xTech Capital and Simple Capital. He said the technology would disrupt the orthodontics industry after dropping the cost of a single aligner to $8.
The third worst performer is Match Group, the largest operator of online dating services like Tinder, Match.com, and OkCupid.
A surprising company in the top 10 worst performers is Stanley Black & Decker, which manufactures power tools that include DeWalt, Stanley, and Black & Decker.
The company recently slashed its full-year earnings guidance from $9.50 to $10.50 per share to $5 to $6 per share.
Chip manufacturers were also hard hit after the crypto winter led to a collapse in demand for their products.
To add to their pain, the US ban on selling high-end chips to China has taken away a significant share of their client base. The companies worst affected include AMD, Nvidia, Intel, and Micron.
Qualcomm narrowly escaped the list but was still down 36.8% this year.
Microsoft and Google escaped the worst-perming list but still declined 30.7% and 34.8%, respectively. Amazon only narrowly escaped the list with a decline of 39.9%.
Apple has remained a pillar of resilience and has only lost 15.8% despite also facing economic headwinds.
The table below shows the price return until the end of October 2022 of shares in the S&P 500 that have lost more than 40% of their value.
|Align Technology Inc||Health Care||-70.0%|
|Match Group Inc||Communication||-67.8%|
|Generac Holdings Inc||Industrials||-66.7%|
|SVB Financial Group||Financials||-66.4%|
|VF Corp||Consumer Discretionary||-61.7%|
|AMD – Advanced Micro Devices Inc||Information Technology||-60.0%|
|Stanley Black & Decker Inc||Industrials||-57.8%|
|Carnival Corp||Consumer Discretionary||-57.7%|
|Paypal Holdings Inc||Information Technology||-57.1%|
|Seagate Technology Holdings Plc||Information Technology||-56.1%|
|Etsy Inc||Consumer Discretionary||-55.3%|
|Dish Network Corp Class A||Communication||-55.2%|
|Nvidia Corp||Information Technology||-55.2%|
|Caesars Entertainment Inc||Consumer Discretionary||-53.2%|
|Bio Rad Laboratories Inc Class A||Health Care||-52.2%|
|Bath And Body Works Inc||Consumer Discretionary||-52.1%|
|Zebra Technologies Corp Class A||Information Technology||-51.5%|
|Teradyne Inc||Information Technology||-51.0%|
|Carmax Inc||Consumer Discretionary||-50.4%|
|Expedia Group Inc||Consumer Discretionary||-49.5%|
|Mohawk Industries Inc||Consumer Discretionary||-48.5%|
|West Pharmaceutical Services Inc||Health Care||-48.4%|
|Western Digital Corp||Information Technology||-47.9%|
|Catalent Inc||Health Care||-47.2%|
|Intel Corporation Corp||Information Technology||-46.6%|
|Skyworks Solutions Inc||Information Technology||-46.2%|
|Vornado Realty Trust Reit||Real Estate||-46.1%|
|Qorvo Inc||Information Technology||-46.0%|
|Estee Lauder Inc Class A||Consumer Staples||-45.9%|
|Dentsply Sirona Inc||Health Care||-45.8%|
|Epam Systems Inc||Information Technology||-45.5%|
|T Rowe Price Group Inc||Financials||-45.4%|
|Aptiv Plc||Consumer Discretionary||-45.1%|
|Applied Material Inc||Information Technology||-44.8%|
|Pool Corp||Consumer Discretionary||-44.7%|
|Lam Research Corp||Information Technology||-44.2%|
|Ansys Inc||Information Technology||-44.1%|
|Nike Inc Class B||Consumer Discretionary||-43.7%|
|Adobe Inc||Information Technology||-43.6%|
|Edwards Lifesciences Corp||Health Care||-43.6%|
|Micron Technology Inc||Information Technology||-43.5%|
|Charter Communications Inc Class A||Communication||-43.2%|
|Paramount Global Class B||Communication||-43.2%|
|Tesla Inc||Consumer Discretionary||-43.1%|
|Idexx Laboratories Inc||Health Care||-43.0%|
|Digital Realty Trust Reit Inc||Real Estate||-42.7%|
|Fortune Brands Home And Security||Industrials||-42.4%|
|Lumen Technologies Inc||Communication||-42.0%|
|Charles River Laboratories||Health Care||-41.4%|
|F5 Inc||Information Technology||-41.1%|
|Whirlpool Corp||Consumer Discretionary||-40.6%|
|eBay Inc||Consumer Discretionary||-40.4%|