(The initial version of this article featured an incorrect list. This has now been corrected.)
You would think that with the broad stock indexes doing so well in 2021, after what may have been surprising gains in 2020, that investors would be in a pretty good mood.
But check out this Twitter posting from July 19:
Tobias Carlisle was referring to CNN’s Fear & Greed Index which fell to 17 later in the morning on July 19. The index incorporates momentum, junk-bond demand, stock-market volatility, options trading patterns and other indicators.
The S&P 500 Index
was up 13% (excluding dividends) for 2021 through 12:45 p.m. ET on July 19, following a 16% gain in 2020. The benchmark index has pulled back only 3% from its all-time intraday high set on May 10, but there are many stocks that have had much more significant declines.
To screen for them, we began with the S&P 500 (tracked by the SPDR S&P 500 ETF Trust
) and the Nasdaq-100 Index
(tracked by the Invesco QQQ Trust
) and identified stocks that were down at least 30% from their intraday 52-week highs.
Some investors looking for good entry points might make use of the list, but keep in mind that it only looks back for a year and says nothing about how much a stock may have risen or fallen before. For example, Tesla Inc.
didn’t make the list below because its stock has fallen “only” 29% from its high on Jan. 25. But its shares were up more than fivefold over the previous year through that high.
Here are the 22 stocks in the S&P 500 or the Nasdaq-100 that have fallen at least 30% from their 52-week intraday highs:
|Company||Price – 12:45 p.m. July 19||Decline from 52-week high||52-week high||Date of 52-week high|
Discovery Inc. Class A|
ViacomCBS Inc. Class B|
Penn National Gaming Inc.|
Pinduoduo Inc. ADR Class A|
Baidu Inc. ADR Class A|
Zoom Video Communications Inc. Class A|
Norwegian Cruise Line Holdings Ltd.|
Trip.com Group Ltd. ADR|
Citrix Systems Inc.|
Vertex Pharmaceuticals Inc.|
|JD.com Inc. ADR Class A||$73.53||-32.1%||$108.29||02/17/2021|
Peloton Interactive Inc. Class A|
United Airlines Holdings Inc.|
Diamondback Energy Inc.|
Royal Caribbean Group|
The 52-week highs are adjusted by FactSet for any splits or spin-offs.
You can click on the tickers for more about each company. Remember that a couple of data points aren’t enough to select a stock for investment. It is best to do your own research to form your own opinion about a company’s prospects with its industy.
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