Stock Groups

Here are 10 of the worst-performing tech stocks from recent washout


After Robinhood went public, people waited in line to get shirts from a kiosk at Wall Street. The company had an IPO on Wall Street earlier that day.

Getty Images News – Getty Images| Getty Images News | Getty Images

Technology was already facing macro-conditions. With inflationInvestors began the year fleeing growth stocks after the Federal Reserve indicated a string of interest rate increases were imminent. The stock market hit a 40-year peak and investors fled to escape the Federal Reserve’s signaling an increase in rates. worst monthBeginning in March 2020, these are the beginning days of the pandemic.

Over the last three weeks, Russia’s outlook has changed from being very bad to extremely worse. Russia’s invasionThe turmoil caused by Ukraine’s recent events rattled an already weak stock market. This added to volatility and geopolitical tensions. Oil prices just spikedPrices for other commodities have risen to new highs, surpassing their previous record of 13 years. This is due to concerns about supply, as Russia is an important producer of aluminum, wheat and palladium.

Investors are only finding security in utilities and energy. Even though everything is falling apart, high-growth stocks in tech are still attractive to those who have the guts.  

For good reason, the mood on the market right now is really bad. SnowflakeCNBC’s Mad Money on Wednesday featured Frank Slootman as CEO. Cloud data analytics vendor shares rose plungedEven though revenues exceeded estimates, company offered a optimistic forecast.

More than 50% of the 52-week high Snowflake achieved in November has been reclaimed by the company. The company is a relative safe-haven in comparison to large segments of the tech sector. Numerous stocks lost more than three quarters of their value from the highs in late 2021. Many well-known names have fallen as low as 90%. 

Byron Deeter (partner at Bessemer Venture Partners) is a cloud evangelist. The median membership in his subscription stock basket has dropped 53%. On average, the price-to sales multiples for each member have fallen from 25 down to less than 12. 

Deeter said, “This sector was just pounded but the macro trend remain very much intact.” toldCNBC’s TechCheck on Monday. You continue to have high-quality names, but they are on sale all over the place.

CNBC pulled together a list of tech-related companies valued at at least $1 billion that had lost 75% or more from their 52-week peak. Below are 10 companies that stand out.

Make a Wish

Discount mobile commerce app WishIt has had difficulty since its inception. IPOIn December 2020. It was originally priced at $24 but went as high as $32.85. The stock traded at $24 and reached $32.85.

Wish’s issues are distinct from other larger problems facing tech stocks. Fourth-quarter revenueThe decline in sales for the third consecutive period was 64%. This has been happening quarter after quarter. The main issue is that people are abandoning the app.

On Tuesday, CEO Vijay Talwar tried to calm investors during part of the earnings call.

Talwar stated, “These numbers show me that we need new thinking to guide our growth back to what we know is possible.”

Stockholders do not see any improvement in the near future. Last week, the stock plunged 16%.


RobinhoodThe stock trading app was a hit with retail investors who were looking to buy and sell meme stocks or cryptocurrencies. This happened especially after Covid-19 became very popular.

Robinhood stock is largely a bust, having started trading in July. It is now down 70% on its IPO value and 87% off its August high.

It would have been difficult to maintain the early hype for Robinhood in these uncertain times. Investors pushed the stock to 24% on Aug. 3, despite not having any news. It rose 50% after Robinhood launched options trading on Aug. 4. This was a very popular option for Robinhood users. The stock plummeted 28% the next day after Robinhood’s launch of options trading. saidExisting shareholders could sell as many as 97.9 millions shares.

The company issued a January report. bleak forecastThe first quarter saw a decrease in active monthly users.

Stitch Fix

2020 Stitch FixThe broader rise in ecommerce stocks has led to more than a double of the shares’ value. They have been trending downwards since January 2021. The shares are down by 85% from the 52-week peak of a year ago and more than 90% from an earlier record set a few months prior.

Stitch Fix stock shares fell 24% after Stitch Fix warned of a slower-than-expected increase in customers. This was due to the fact that 2022 revenues would be affected by this weaker growth. The rollout of the product “Stitch Fix” was responsible for a large portion of the slowdown. FreestyleIt is geared toward personalizing your shopping experience. Dan Jedda (CFO) described the transformation as “a multi-year effort.”

Jedda added that there were fewer customers and the guidance also “reflects ongoing macro impacts of global supply chain issues in the industry.”


Bike trainer PelotonIt was the pandemic darling of 2020. It was quite a while ago.

After subscription revenue, digital subscribers, and gross margin, which all fell below expectations, November saw the stock fall 35%. January 20, CNBC reportedPeloton temporarily stopped production of the connected products for its fitness business, causing shares to drop by almost 24%.

Peloton saidJohn Foley, the CEO of Foley Enterprises Inc. will resign on February 8th and 20% reductions in its staff. Stock is now down 83%, compared to its July 52-week peak.


AffirmThe pandemic brought a huge boost to online retail as the “buy now, and pay later” option was popularly adopted. AmazonEven jumped aboardIn August, the stock was boosted 71% by this month.

Affirm shares plunged 81% after reaching an impressive market cap of approximately $47 billion in November. It is currently valued at $9.5billion.

In February, the stock plunged 20% to more than 30% in consecutive days. This despite its forecast and revenue exceeding expectations. Analysts at DA Davidson felt that the full-year guidance was too optimistic and implied weakness for the second half. They recommend that you still buy the shares.

Analysts wrote that Affirm is experiencing increased consumer adoption and a wider Affirm retail presence, which means Affirm’s volume growth has accelerated while BNPL peers have slowed down.

OpenDoor’s new model is disrupting real estate. The platform allows homeowners to buy and sell homes.



OpendoorHe pioneered the iBuying (or instant buying) home market. This was achieved by combining technology with people. It allows you to quickly purchase large numbers of houses and then later sell them. It was a challenger. ZillowIt was announced that the move would be made in November. exiting the marketInvestors saw it as an opportunity. positive signOpendoor sends the stock up 16% in a day

Opendoor’s stock has dropped 78% since its 52 week high nearly a year back.  

Opendoor suffered its steepest decline on February 25, when shares fell 23%. Opendoor was like so many other tech out-of favor companies. Although it beat its forecasts, investors rushed to the exits. This is the key fourth-quarter metricThe contribution margin or revenue after all costs, was what disappointed. This was down from 12.6% one year ago.


18 February Roku’sStock fell 22%. This is the biggest single-day drop since streaming giant Roku went public in 2017. Roku reported fourth-quarter revenues and guidance for the first quarter. missed expectationsPivotal Research Group gave the stock a Sell rating.

Due to shortages, TV units have been selling less in America. Roku is absorbing the costs, rather than passing them onto customers.

In a note, Jeffrey Wlodarczak, Pivotal, wrote that Roku would grow its revenue “in essence” at a slower pace than anticipated. This is in addition to a huge increase in expenses. It could lead to a slowdown in global economic growth with increased levels of competition.

This stock has fallen 77% since July, when it reached its 52-week highest.


Israeli Website Builder WixKunaal Malde, an Atlantic Equities analyst, wrote that the stock is still gaining market share but at a slower pace than usual. Kunaal Malde sent this note to clients in August. From the equivalent rating of buy, he has lowered his stock rating to neutral.

Wix had a revenue growth rate of 95% per year ten years ago. The fourth quarter saw a dip in growth.

Wix shares plunged 23% after fourth quarter results were announced, marking the biggest decline in Wix stock since 2013. Both revenue guidance and the first-quarter revenue guidance did not meet analyst expectations. They are currently 77% off their April 22nd 52-week high.

Malde said that sales and marketing efficiency are declining on a net profit basis. Malde added, “Wix risks losing an additional share of higher-yielding eCommerce websites” as the company reduces its spending.


Brokerage of real estate online RedfinAs home buyers reacted to pandemic fears, there was a surge in revenue growth for 2021. Revenue rose by 117%

Redfin’s stock was cut 20% by investors on February 18, as Redfin released its fourth-quarter results. These shares have fallen 76% from their March 2012 52-week high.

Redfin’s gross Margin was lower than anticipated due to higher transaction bonuses, and increased personnel costs. Chris Nielsen, Redfin’s chief finance officer, stated this on a conference phone call with analysts.

The revenue per transaction fell as well. Nielsen stated that the company saw a shift in user base due to people moving to more affordable homes.


Names are likely familiar to anyone who has eaten in a local restaurant under a heatlamp for the past few years. Toast. This company was founded in order to provide point-of sale software and hardware for restaurants. It quickly became an industry leader. heavyweightHelping customers to transition to contactless ordering during the pandemic. 

Toast goes publicIn September, it rallied steady until November and reached a market capitalization of around $35 billion. Since then, it has fallen 75% to $8.8billion. 

After revenue exceeded estimates, the 18% drop was the largest one-day loss. Analysts expected a wider loss. The company’s revenue is forecast to grow 39% this year and 33% by 2023. According to Mizuho Securities analysts who hold a “hold” rating, the stock has the equivalent to a buy rating. 

WATCH: The full interview with Bryon Deeter of Bessemer Venture Partners