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Stocks suffered across the board in 2022. Although there were some bright patches — such as energy stocks like Occidental Petroleum, up over 120% year over year as of early December — the broad market indices had a rough go of it.
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As of Dec. 5, the S&P 500 index was down about 17%, while the tech-heavy NASDAQ fell closer to 30%. Amid the wreckage lay some of the best-known names in the market, owned by both institutions and retail investors alike.
Here are some of the household names that have suffered mightily in 2022.
Meta Platforms (FB)
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Stock price as of Dec. 31, 2021: $336.36
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Price as of Dec. 5, 2022: $122.47
Meta Platforms, formerly known as Facebook, has been one of the primary leaders of the 2022 tech wreck. The company pivoted to the metaverse at the exact wrong time, as the cryptocurrency market, which is intimately tied to the metaverse, collapsed in 2022. But that was just the tip of the iceberg for Meta Platforms, which also missed on its Q3 earnings, projected a weaker-than-expected Q4 and took a $9.4 billion loss on its Reality Labs unit. The stock has fallen by nearly two-thirds in 2022.
Netflix (NFLX)
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Stock price as of Dec. 31, 2021: $602.44
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Price as of Dec. 5, 2022: $312.58
Long-time Wall Street darling Netflix took it on the chin in 2022, as rising competition and its first subscriber losses in a decade decimated the stock. Rising inflation and talk of a pending recession also have scared away investors, who worry that consumers will trim their discretionary spending. Shares have dropped about 50% on the year.
Microsoft (MSFT)
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Stock price as of Dec. 31, 2021: $336.32
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Price as of Dec. 5, 2022: $250.19
Software giant Microsoft is suffering from the same problem as many companies in 2022 — slowing growth. Although its video game and Xbox divisions are still booming, demand isn’t quite as great as it was during the depths of the pandemic, and productivity software sales have slowed as well. The stock hasn’t suffered as much as many others in 2022 — down “only” about 25% year to date. But as this member of the 30-stock Dow Jones Industrial Average is widely held, it has caused pain to plenty of investors.
Tesla (TSLA)
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Stock price as of Dec. 31, 2021: $352.26
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Price as of Dec. 5, 2022: $182.43
Tesla is constantly in the news, thanks in large part to its quotable CEO Elon Musk. But after topping the S&P 500 with a 700% return in 2020 — and following that up with an additional 50% gain in 2021 — shares of Tesla have nosedived in 2022, down nearly 50%. The combination of a potential recession, Musk selling billions of dollars worth of shares and his distracting purchase of Twitter have all combined to drag the stock down.