If you have a 401K or mutual fund or are a full-time investor, I don’t have to point out the obvious; 2022 was a rough year on Wall Street. That seems to be a common by-product of a recession and governments that lean towards socialism, but when you see the numbers of what happened to the ten largest S&P 500 stock losers of the year, it could make your head spin.
As 2022 winds down, the data confirms that roughly 70% of companies in the S&P 500 posted negative returns this year. The usual winners and sure bets like Apple, Amazon, Meta, Tesla, and Microsoft all got clipped.
The ten companies on the S&P 500 with the most significant stock price declines saw over $1.6 trillion of market cap wiped away.
Ouch!
Here’s some of the carnage.
PayPal was down 63.4% in 2022. Over $142 billion in market value evaporated.
We’re just getting warmed up.
The company that makes North Face, Supreme, Vans, and other apparel is called VFC. They were down 64.4% this year.
Signature Bank waved goodbye to $12.4 billion market cap, that’s a 64% decline this year.
Meta is seventh on the list. Mark Zuckerberg’s foray into the metaverse eliminated almost 65% of the company’s value and $611.17 billion.
The multi-tasking Elon Musk wasn’t at Tesla most of the year’s final three months, so somebody had to tell him the stock was down 65%. A market value decline of over $703 billion.
Catalant is a company that manufactures products for Pharma and biotech companies. They are worth 66.6$ less than last year.
SVB Financial Group is the fourth biggest loser – down 68% and $27 billion in market cap.
Align Technology is the company that makes Invisalign clear braces. They were crushed by shutdowns in China, which clipped their stock price by 69%.
Number 2 on the list is Match Group. What, people aren’t looking for love anymore? The most shocking thing is that this company was big enough to lose $26.2 billion in market cap. That’s 69.3%.
The saddest story for 2022 was the one experienced by GNRC. In 2020 and 2021, they had some unrealistic gains because of Covid. This is a company that makes backup generators. In 2022 people were happy if they could make their house and car payments on time. So there wasn’t much demand for an extra generator to store in the garage, and their stock price showed it, falling 73.8%.
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