By Philip van Doorn
One day after the Nasdaq Composite Index rose more than 3%, in what appeared to be a positive reaction by investors to the Federal Reserve’s latest moves to fight inflation, U.S. stocks reversed on May 5 with brutal volatility.
Market Extra: As Dow sinks over 1,000 points, signs of panic selling emerge in the stock market
The Nasdaq /zigman2/quotes/210598365/realtime COMP -0.47% sank 5% on Thursday, more than reversing its gains over the previous three trading sessions. The tech-weighted index has now fallen 21.3% for 2022 (excluding dividends).
Diving into the index’s large-cap non-financial subset (tracked by the Invesco QQQ Trust /zigman2/quotes/208575548/composite QQQ -0.69% ), here are the 13 stocks among the Nasdaq-100 /zigman2/quotes/210598364/realtime NDX -0.74% that had the biggest two-day swings — 12% or more:
| Company | Ticker | Two-day high/low price swing | Price change – May 5 | Price change – 2022 | Decline from 52-week high | Date of 52-week intraday high |
| Match Group Inc. | /zigman2/quotes/207178501/composite MTCH | 23.3% | -8.3% | -41.9% | -57.8% | 10/21/2021 |
| Datadog Inc. Class A | /zigman2/quotes/214127379/composite DDOG | 18.8% | -6.0% | -37.2% | -44.0% | 11/17/2021 |
| Cognizant Technology Solutions Corp. Class A | /zigman2/quotes/206555936/composite CTSH | 16.4% | -12.8% | -17.0% | -21.3% | 03/22/2022 |
| Booking Holdings Inc. | /zigman2/quotes/203576210/composite BKNG | 15.6% | 3.3% | -9.5% | -20.0% | 02/16/2022 |
| eBay Inc. | /zigman2/quotes/204653455/composite EBAY | 15.2% | -11.7% | -27.8% | -40.8% | 10/22/2021 |
| Fortinet Inc. | /zigman2/quotes/205733290/composite FTNT | 14.4% | -1.0% | -20.8% | -23.5% | 12/29/2021 |
| Pinduoduo Inc. ADR Class A | /zigman2/quotes/208876581/composite PDD | 14.3% | -11.2% | -30.9% | -71.9% | 06/01/2021 |
| MercadoLibre Inc. | /zigman2/quotes/200678442/composite MELI | 14.3% | -10.7% | -32.3% | -53.6% | 09/02/2021 |
| CrowdStrike Holdings Inc. Class A | /zigman2/quotes/212513426/composite CRWD | 13.3% | -9.7% | -11.6% | -39.4% | 11/10/2021 |
| Zscaler Inc. | /zigman2/quotes/203585803/composite ZS | 12.7% | -8.9% | -40.7% | -49.4% | 11/19/2021 |
| Airbnb Inc. Class A | /zigman2/quotes/222990650/composite ABNB | 12.7% | -8.4% | -14.1% | -32.7% | 11/17/2021 |
| Moderna Inc. | /zigman2/quotes/205619834/composite MRNA | 12.1% | -8.4% | -44.1% | -71.5% | 08/10/2021 |
| DocuSign Inc. | /zigman2/quotes/205992027/composite DOCU | 12.0% | -8.6% | -46.9% | -74.3% | 08/10/2021 |
| Source: FactSet | ||||||
Click on the tickers for more about each company.
Read Tomi Kilgore’s detailed guide to the wealth of information for free on the MarketWatch quote page.
Jump in or head for the hills?
Buying “on the dips” hasn’t been a very good trading strategy this year:
But there are always investors looking to ride a recovery. If you are one of those, analysts polled by FactSet believe that eight of the volatile stocks listed above are worth a second look.
Leaving the list in the same order, here’s a summary of analysts’ opinions and consensus price targets:
| Company | Ticker | Share “buy” ratings | Consensus price target | Closing price – May 5 | Implied 12-month upside potential |
| Match Group Inc. | /zigman2/quotes/207178501/composite MTCH | 86% | $122.38 | $76.88 | 59% |
| Datadog Inc. Class A | /zigman2/quotes/214127379/composite DDOG | 79% | $179.76 | $111.87 | 61% |
| Cognizant Technology Solutions Corp. Class A | /zigman2/quotes/206555936/composite CTSH | 48% | $93.14 | $73.60 | 27% |
| Booking Holdings Inc. | /zigman2/quotes/203576210/composite BKNG | 68% | $2,781.75 | $2,171.91 | 28% |
| eBay Inc. | /zigman2/quotes/204653455/composite EBAY | 41% | $59.60 | $48.04 | 24% |
| Fortinet Inc. | /zigman2/quotes/205733290/composite FTNT | 59% | $365.24 | $284.52 | 28% |
| Pinduoduo Inc. ADR Class A | /zigman2/quotes/208876581/composite PDD | 80% | $65.51 | $40.28 | 63% |
| MercadoLibre Inc. | /zigman2/quotes/200678442/composite MELI | 91% | $1,588.64 | $913.22 | 74% |
| CrowdStrike Holdings Inc. Class A | /zigman2/quotes/212513426/composite CRWD | 93% | $272.75 | $180.98 | 51% |
| Zscaler Inc. | /zigman2/quotes/203585803/composite ZS | 79% | $324.60 | $190.41 | 70% |
| Airbnb Inc. Class A | /zigman2/quotes/222990650/composite ABNB | 43% | $192.50 | $143.09 | 35% |
| Moderna Inc. | /zigman2/quotes/205619834/composite MRNA | 48% | $234.47 | $142.02 | 65% |
| DocuSign Inc. | /zigman2/quotes/205992027/composite DOCU | 48% | $104.06 | $80.93 | 29% |
| Source: FactSet | |||||
Don’t miss: With interest rates rising, it’s time to focus on MANG stocks instead of FAANG, according to Jefferies
Add to watchlist
MTCH
Add to watchlist
DDOG
Add to watchlist
CTSH
Add to watchlist
BKNG
Add to watchlist
EBAY
Add to watchlist
FTNT
Add to watchlist
PDD
Add to watchlist
MELI
Add to watchlist
CRWD
Add to watchlist
ABNB
Add to watchlist
MRNA
Add to watchlist
DOCU
Add to watchlist
MTCH
Add to watchlist
DDOG
Add to watchlist
CTSH
Add to watchlist
BKNG
Add to watchlist
EBAY
Add to watchlist
FTNT
Add to watchlist
PDD
Add to watchlist
MELI
Add to watchlist
CRWD
Add to watchlist
ABNB
Add to watchlist
MRNA
Add to watchlist
DOCU
