Bitcoin (BTC) continues to get all the negative attention for its recent poor performance, which saw the flagship crypto fall more than 50% from its peak in November. But stocks have had it even worse and the following 5 large-cap stocks all post over 60% in losses since their 52-week highs.
Let’s have a look.
5 stocks that have fallen more than Bitcoin
1. Moderna Inc. (MRNA)
Shares of drug company Moderna (MRNA) rallied to highs just shy of $500 on 10 August 2021. With current prices at around $146, Moderna stock is down 70%. With the global Covid-19 pandemic showing signs of easing, investors are looking at this is a headwind for the vaccine maker.
The CEO Stephane Bancel has acknowledged this possibility, stating that its ‘reasonable’ to think the pandemic is approaching its final stages.
2. PayPal Inc. (PYPL)
The PYPL stock has had a rough ride over the past two months, with the rot since its peak exacerbated by investors’ move into value stocks as tech stocks dumped.
Earlier this month, the payments giant released disappointing fourth-quarter earnings results, with market reaction seeing the company’s shares plunge nearly 30%.
PayPal (PYPL) is down 66% since its 52-week high reached in July last year, with losses at one time hitting above 70% since the yearly high. Some gains have cut these losses, but the stock remains 40% lower in 2022 after this week’s dump.
3. Zoom Video Communications Inc. (ZM)
The stock of US communications technology firm Zoom Video has continued to fall in 2022. ZM shares hit their 52-week highs around $440 in early 2021. However, with a shift in investor sentiment around pandemic trades, the stock has tanked 71% from peak to trough.
With the current price around $124, Zoom is trading around where it changed hands in March 2020. The Zoom stock, if it fails to shed the downtrend momentum, could sink further and hit pre-pandemic price levels.
4. Peloton Interactive Inc. (PTON)
Fitness products firm Peloton Interactive is another of the major stocks to plunge massively since it reached its 52-week high. The company’s value climbed significantly during the pandemic as lockdowns and other restrictions called for more sales in flagship products such as the Peloton Bike and Tread.
Peloton certainly faces increasing headwinds around dwindling demand for its pricey brands. Today, PTON’s price of $28 means the stock has sharply slipped from its $142 highs reached in February 2021. Peloton stock is down 79% in the past year.
5. DraftKings Inc. (DKNG)
US digital sports entertainment and gaming provider DraftKings Inc is also one of the biggest losers in the stock market over the past year.
The stock of the regulated digital media company rose to highs near $75 in March last year. However, at current price levels just above $17.90, the DKNG stock is down 76%, with today’s -18% dip likely to add to the negative outlook.
A recap of BTC price since ATH
Bitcoin rallied to an all-time high of $69,044 last November, but its poor performance since touching that peak has received more attention across the markets than has been directed to some of the stocks to see massive hammering since their 52-week peaks.
While Bitcoin fell 50% from its ATH, the above stocks are among several Wall Street giants that have tanked even more from their recent highs.
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