2022 Returns For Investor And Pandemic Darlings: You Won't Believe This Stock That Is Positive On The Year
2022 has been an uncertain year in the markets, to say the least.
A number of second-quarter big tech earnings were delivered in recent weeks, showing signs of stability in the macro environment and less of a recession.
Microsoft Corporation (NASDAQ: MSFT) and Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL), while down 13.68%, 16.72% year-to-date, respectively, showed steady revenue growth and margins given current macroeconomic conditions.
Microsoft reported a free cash flow of $17.8 billion, net profits of $16.7 billion, and optimistic annual projections. Similar to Apple, Google recently revealed a significant free cash flow of $12.6 billion and net earnings of $16 billion.
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Many companies slashed guidances and workforces ahead of a recession, whispers of which began at the beginning of 2022, causing many investor and COVID-19 pandemic favorites to significantly shrink from previous valuations.
Take, for example, Canadian e-commerce service Shopify Inc (NYSE: SHOP): its stock price flew as high as $1,690.60 per share in November 2021, making it a certified pandemic darling.
Today, high inflation, increased competition and a pullback in consumer spending online compared to during the pandemic is beating the stock down: shares of Shopify are down 70.38% year-to-date and the chart gets worse as you zoom out.
Or, let's take a look at Netflix Inc (NASDAQ: NFLX): the once high-flying stock began the year trading at $591.15. After consecutive quarters of little to no growth, investors reeled in their cash, causing the stock to drop 59.34% year-to-date.
There is one investor favorite that is positive this year. Any guesses? Check the list below to find out! All figures are year-to-date.
Snap Inc (NYSE: SNAP) -77.21%
Shopify Inc (NYSE: SHOP) -70.36
Netflix Inc (NASDAQ: NFLX) -59.37%
Spotify Technology SA (NYSE: SPOT) -50.70%
PayPal Holdings Inc (NASDAQ: PYPL) -49.56%
Meta Platforms Inc (NASDAQ: META) -47.49%
Snowflake Inc (NYSE: SNOW) -47.35%
Block Inc (NYSE: SQ) -46.04%
Etsy Inc (NASDAQ: ETSY) -44.66%
NVIDIA Corporation (NASDAQ: NVDA) -40.11%
Zoom Video Communications Inc (NASDAQ: ZM) -39.38%
Advanced Micro Devices, Inc. (NASDAQ: AMD) -34.33%
Tesla Inc (NASDAQ: TSLA) -26.88%
Moderna Inc (NASDAQ: MRNA) -26.32%
Salesforce Inc (NYSE: CRM) -26.21%
Adobe Inc (NASDAQ: ADBE) -22.49%
Atlassian Corporation PLC (NASDAQ: TEAM) -17.69%
Alphabet Inc Class C (NASDAQ: GOOG) -16.93%
Amazon.com, Inc. (NASDAQ: AMZN) -16.50%
Microsoft Corporation (NASDAQ: MSFT) -13.85%
Apple Inc (NASDAQ: AAPL) -7.36%
And the winner is ... GameStop Corp. (NASDAQ: GME) +5.91%
Photo: Jes2u.photo via Shutterstock
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