By Philip van Doorn
Other stocks way off their highs include Baidu, Peloton and United Airlines
(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 (link) 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 (SPY)) and the Nasdaq-100 Index (tracked by the Invesco QQQ Trust (QQQ)) 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. (TSLA) 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 DISCA $27.75 -64.5% $78.14 03/19/2021 ViacomCBS Inc. Class B VIAC $39.46 -61.3% $101.97 03/15/2021 Penn National Gaming Inc. PENN $65.78 -53.7% $142.00 03/15/2021 Pinduoduo Inc. ADR Class A PDD $102.91 -51.6% $212.60 02/16/2021 Baidu Inc. ADR Class A BIDU $175.80 -50.5% $354.82 02/22/2021 Zoom Video Communications Inc. Class A ZM $345.49 -41.3% $588.84 10/19/2020 Splunk Inc. SPLK $133.37 -41.0% $225.89 09/02/2020 Carnival Corp. $19.78 -37.3% $31.52 06/08/2021 Norwegian Cruise Line Holdings Ltd. NCLH $21.91 -36.5% $34.49 03/04/2021 Trip.com Group Ltd. ADR TCOM $28.89 -36.1% $45.19 03/17/2021 Citrix Systems Inc. CTXS $113.57 -34.6% $173.56 07/22/2020 Vertex Pharmaceuticals Inc. VRTX $199.10 -34.5% $304.00 07/20/2020 JD.com Inc. ADR Class A $73.53 -32.1% $108.29 02/17/2021 Peloton Interactive Inc. Class A PTON $116.64 -31.8% $171.09 01/14/2021 United Airlines Holdings Inc. UAL $43.45 -31.8% $63.70 03/18/2021 Seagen Inc. SGEN $145.95 -31.8% $213.94 10/13/2020 Biogen Inc. BIIB $322.58 -31.2% $468.55 06/07/2021 Freeport-McMoRan Inc. FCX $31.96 -30.7% $46.10 05/10/2021 Diamondback Energy Inc. FANG $71.69 -30.1% $102.53 07/01/2021 Royal Caribbean Group RCL $69.42 -30.0% $99.24 02/25/2021 APA Corp. APA $17.02 -30.0% $24.30 06/07/2021 Viatris Inc. VTRS $13.26 -29.7% $18.86 12/31/2020 Source: FactSet
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.
Don't miss:19 dividend stocks to help you combat inflation (link)
-Philip van Doorn; 415-439-6400; AskNewswires@dowjones.com
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07-19-21 1342ETCopyright (c) 2021 Dow Jones & Company, Inc.