: Tesla is not alone: 20 (and a half) other big stocks had their worst year on record

by | Dec 30, 2022 | Stock Market

In the worst year for stocks since the Great Recession, several big names suffered their worst year on record in 2022. The S&P 500 index
SPX,
-0.25%
and Dow Jones Industrial Average
DJIA,
-0.22%
both had their worst year since 2008, with declines of 19.4% and 8.8% respectively. But at least 19 big-name stocks — and half of another — tallied a more ignominious title for 2022, according to Dow Jones Market Data: Worst year ever.

Tesla Inc.
TSLA,
+1.12%
had the worst year among the group of S&P 1500 constituents with a market capitalization of $30 billion or higher headed for record annual percentage declines. Tesla shares declined 65% so far this year, easily the worst year on record for the popular stock, which has only had one previous negative year since going public in 2010, an 11% decline in 2016. Tesla barely outpaced another Silicon Valley company. Meta Platforms Inc.
META,
+0.07%,
the parent company of Facebook, fell 64.2% as Chief Executive Mark Zuckerberg stuck to spending billions to develop the “metaverse” despite a stagnating online-advertising industry, which provides the bulk of his revenue. It is only the second year in Facebook’s history that the stock has declined, after a 25.7% drop in 2018, though sha …

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