Tesla is not alone: 18 (and a half) other big stocks are headed for their worst year on record
In the worst year for stocks since the Great Recession, several big names are heading for their worst year on record with just one trading day left in 2022.
The S&P 500 index SPX, +1.75% and the Dow Jones Industrial Average DJIA, +1.05% are both headed for their worst year since 2008, down 20.6% and 9.5%, respectively, through Thursday. But at least 19 big-name stocks — and half of another — are headed for a uglier headline for 2022, according to Dow Jones Market Data: Worst Year Ever.
Tesla Inc. TSLA, +8.08% is having the worst year among S&P 1500 constituents with a market capitalization of $30 billion or higher, prone to record annual percentage declines. Shares of Tesla are down 65.4% so far this year, which would easily be the worst year on record for the popular stock, which has only had one previous negative year since going public in 2010, a decrease of 11% in 2016.
Tesla may not be the worst decliner on the list by the time 2023 rolls around, however, as another Silicon Valley company is on the upswing. Meta Platforms Inc. META, +4.01% , the parent company of Facebook, has plunged 64.2% so far this year as CEO Mark Zuckerberg stalled on spending billions to develop the “metaverse” even as the online advertising industry offers the most much of his income has stagnated. It would also be just the second year in Facebook’s history that the stock has fallen, following a 25.7% decline in 2018, though shares ended Facebook’s 2012 IPO year 30% lower than its original IPO price.
Only one other stock could match Tesla and Meta’s record declines this year, and Tesla CEO Elon Musk also has some familiarity with that company. PayPal Holdings Inc. PYPL, +4.46% , where Musk first found fame during the dot-com boom, has fallen 63.2% so far this year as executives have refocused the company on attracting and retaining high-value users rather than try to get as many users as possible on the payment platform. It would be the second consecutive year of decline for PayPal, which had not experienced one before 2021 since its spinoff from eBay Inc. EBAY, +4.76% in 2015.
None of the other companies are headed for their worst year, yet to lose more than half their value this year, although Charter Communications Inc. CHTR, +1.99% is close. Shares of the telecommunications company have fallen 48.2% year to date as investors worry about plans to spend big in 2023 in an effort to reverse declining internet subscriber numbers.
In addition to the list below, the Class C shares of Alphabet Inc. of GOOG, +2.88% is having its worst year on record with a 38.4% decline. MarketWatch doesn’t include it on the list, however, since Alphabet’s Class A shares GOOGL, +2.82% fell 55.5% in 2008; the special class of non-voting shares was created in 2012 to allow the company – then still called Google – to continue issuing shares to employees without diluting the control of co-founders Sergey Brin and Larry Page.
In addition to that piece of Alphabet stock, here are the 19 big stocks that are headed for their worst year ever, based on Thursday’s closing prices.
Company % decline in 2022 Tesla Inc. TSLA, +8.08% 65.4% Meta Platforms Inc. META, +4.01% 64.2% PayPal Holdings Inc. PYPL, +4.46% 62.6% Charter Communications Inc. 48.0% Edwards Cor.p Lifesci 2.87% 41.9% ServiceNow Inc. NOW, +3.67% 39.9% Zoetis Inc. ZTS, +3.00% 39.3% Fidelity National Information Services Inc. FIS, +2.03% 37.8% Accenture PLC ACN, +2.00% Fortetin Inc.3% , +2.82% 31.5% Estee Lauder Cos Inc. EL, +1.52% 32.5% Moderna Inc. MRNA, +1.34% 29.6% Iqvia Holdings Inc. IQV, +2.94% 26.3% Carrier Global Corp. 17% CARR, +2 % Hilton Worldwide Holdings Inc. HLT, +1.63% 19.2% Broadcom Inc. AVGO, +2.37% 16.2% Arista Networks Inc. ANET, +2.27% 15.2% Dow Inc. DOW, +1.32% 10.7% Otis Worldwide, Corp. +2.16% 9.2%