Some technology stocks performing below 75 percent

The year has been a rough start for some technology stocks, especially with the growing tensions between world-powers.  Investors fled growth stocks in January, driving the Nasdaq to its worst month since March 2020, with inflation at a 40-year high and the Federal Reserve suggesting a series of interest rate rises on the way.

Over the last three weeks, the outlook has deteriorated significantly. Last month's Russian invasion of Ukraine shook an already shaky financial market, adding global upheaval to the mix of unpredictability. Because Russia is a major producer of wheat, palladium, and aluminum, oil prices have just risen to their highest level in almost thirteen years, and prices of other commodities are also rising due to supply concerns.

The sole safe haven for investors in the United States is energy and utilities. While the rest of the market is suffering, the fastest-growing tech equities are proving unappealing to all but the most ardent industry bulls.

While the markets seem to be in a rollercoaster, not all tech stocks are having a bad time. For example, Snowflake is up more than 50 percent of its 52-week high set in November. In comparison to large sections of the tech industry, this makes the corporation a relative safe haven. Since peaking in late 2021, many equities have lost at least three-quarters of their value, and other well-known companies have lost 90 percent or more.

CNBC compiled a list of $1 billion-plus tech and tech-related companies that have lost at least 75 percent of their value since their 52-week highs.

Wish

NASDAQ: WISH

2.07 USD

+0.080 (4.02%) today

8 Mar, 12:20 GMT-5 

Mobile payment app with mouth-watering discounts, Wish has been struggling since its IPO in December 2020. The stock began trading at $24 and reached a high of $32.85. However, it is currently trading around $1.99, which is more than 90 percent below its intraday 52-week high from nearly a year ago. Wish's problems are distinct from the broader concerns that plague tech stocks. Revenue fell by 64% in the fourth quarter, marking the third consecutive quarter of decline. Each quarter, the situation has become worse, with the main issue being that users are quitting the app.

Robinhood

NASDAQ: HOOD

11.92 USD

+0.51 (4.42%) today

8 Mar, 12:22 GMT-5

After the massive success of in the wake of the COVID-19 pandemic, Robinhood's stock-trading app became popular among retail investors looking to buy and sell meme stocks and cryptocurrencies. The stock of Robinhood, which began trading in July, has essentially been a flop.  dropping from 70 percent from its IPO price and a whopping 87 percent from its August high. Even under the best of circumstances, the early trend for Robinhood would've been difficult to maintain. Despite the dearth of news, investors drove the stock up 24% on August 3. It increased by 50% on Aug. 4 after the launch of options trading, which has proven to be a popular choice among Robinhood users. However, the stock dropped about 28% the next day as the company announced that current shareholders will sell up to 97.9 million shares.

Peloton

NASDAQ: PTON

23.10 USD

+0.58 (2.60%) today

8 Mar, 12:25 GMT-5 

Peloton, a fitness bike manufacturer, became a viral favorite in March 2020, in the wake of the pandemic. After subscription revenue, digital subscribers, and gross margin each underperformed in November, the stock dropped 35 percent in a single session. Peloton's stock fell about 24 percent after news reports in Jan. 20 that the company was temporarily pausing manufacture of its connected fitness gadgets. On February 8, Peloton announced that CEO John Foley will step down and that the firm would cut 20 percent of its personnel. The stock has dropped 83 percent since its July 52-week high.

OpenDoor

NASDAQ: OPEN

6.81 USD

+0.28 (4.29%) today

8 Mar, 12:27 GMT-5

Opendoor created the iBuying, or instant buying marketplace by combining technology and humans to buy and sell properties in large quantities. When competitor Zillow announced its retirement from the market in November 2021, investors took it as a good indication for Opendoor, driving the stock up 16 percent in one day. Opendoor, on the other hand, has lost more than 70% of its value in the last four months, and the stock has lost 78 percent of its value from its 52-week high about a year ago. The steepest drop in Opendoor's stock occurred on February 25, when the stock fell 23 percent. Opendoor, like many out-of-favor tech companies, exceeded expectations and surpassed its outlook, yet investors flocked to the exits nevertheless.

Wix

NASDAQ: WIX

77.26 USD

+2.54 (3.41%) today

8 Mar, 12:28 GMT-5

Wix, an Israeli website builder, continues to gain market share, although at a slower pace, according to Atlantic Equities analyst Kunaal Malde in a note to investors earlier this month. He downgraded the stock from a buy to a neutral recommendation. Wix's revenue was expanding at a rate of 95% per year a decade ago. However, in the fourth quarter, growth fell less than 20% for the first time. Wix stock dropped 23% on Feb. 16 after the business published fourth-quarter results, the biggest drop since its Nasdaq debut in 2013. Both sales and revenue guidance for the first quarter fell short of analysts' estimates. The stock is down 77 percent from its April 52-week high.

Roku

NASDAQ: ROKU

115.64 USD

+3.19 (2.84%) today

8 Mar, 12:30 GMT-5

Roku's shares dropped 22% on February 18, tying for the biggest single-day drop since the streaming startup went public in 2017. Roku's fourth-quarter revenue and first-quarter guidance both fell short of analysts' estimates, forcing Pivotal Research Group to downgrade the stock to a sell. As a result of gadget shortages, TV unit sales have fallen in the United States. Instead of passing the costs on to customers, Roku is swallowing them.

The stock has dropped 77% since its 52-week high in July.