By Philip van Doorn
( 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 /zigman2/quotes/210599714/realtime SPX -1.44% 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 /zigman2/quotes/209901640/composite SPY -1.44% ) and the Nasdaq-100 Index /zigman2/quotes/210598364/realtime NDX -2.01% (tracked by the Invesco QQQ Trust /zigman2/quotes/208575548/composite QQQ -2.07% ) 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. /zigman2/quotes/203558040/composite TSLA -1.44% 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||$27.75||-64.5%||$78.14||03/19/2021|
|ViacomCBS Inc. Class B||$39.46||-61.3%||$101.97||03/15/2021|
|Penn National Gaming Inc. /zigman2/quotes/209264611/composite PENN||$65.78||-53.7%||$142.00||03/15/2021|
|Pinduoduo Inc. ADR Class A /zigman2/quotes/208876581/composite PDD||$102.91||-51.6%||$212.60||02/16/2021|
|Baidu Inc. ADR Class A /zigman2/quotes/209050136/composite BIDU||$175.80||-50.5%||$354.82||02/22/2021|
|Zoom Video Communications Inc. Class A /zigman2/quotes/211319643/composite ZM||$345.49||-41.3%||$588.84||10/19/2020|
|Splunk Inc. /zigman2/quotes/203060494/composite SPLK||$133.37||-41.0%||$225.89||09/02/2020|
|Norwegian Cruise Line Holdings Ltd. /zigman2/quotes/204183397/composite NCLH||$21.91||-36.5%||$34.49||03/04/2021|
|Trip.com Group Ltd. ADR /zigman2/quotes/210510831/composite TCOM||$28.89||-36.1%||$45.19||03/17/2021|
|Citrix Systems Inc.||$113.57||-34.6%||$173.56||07/22/2020|
|Vertex Pharmaceuticals Inc. /zigman2/quotes/202259802/composite 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 /zigman2/quotes/208035743/composite PTON||$116.64||-31.8%||$171.09||01/14/2021|
|United Airlines Holdings Inc. /zigman2/quotes/205037281/composite UAL||$43.45||-31.8%||$63.70||03/18/2021|
|Seagen Inc. /zigman2/quotes/203326163/composite SGEN||$145.95||-31.8%||$213.94||10/13/2020|
|Biogen Inc. /zigman2/quotes/201531540/composite BIIB||$322.58||-31.2%||$468.55||06/07/2021|
|Freeport-McMoRan Inc. /zigman2/quotes/200215692/composite FCX||$31.96||-30.7%||$46.10||05/10/2021|
|Diamondback Energy Inc. /zigman2/quotes/201200230/composite FANG||$71.69||-30.1%||$102.53||07/01/2021|
|Royal Caribbean Group /zigman2/quotes/208854639/composite RCL||$69.42||-30.0%||$99.24||02/25/2021|
|APA Corp. /zigman2/quotes/200648444/composite APA||$17.02||-30.0%||$24.30||06/07/2021|
|Viatris Inc. /zigman2/quotes/209413137/composite VTRS||$13.26||-29.7%||$18.86||12/31/2020|
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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