The index has dropped roughly 30% in that time, tumbling deep into a bear market.
Those losses have been driven by a combination of factors, including investors dumping Covid-19 winners as the world continued to reopen from the pandemic, and companies with high valuations or no-to-low low earnings falling out of favor in a rising-rate environment. DocuSign and Zoom Video have fallen more than 80% and 67%, respectively, since the Nasdaq-100 reached its record high. Both stocks soared at the onset of the Covid-19 pandemic in 2020, as working remotely from home took hold.
To be sure, there are a few Nasdaq-100 names that have thrived despite the index's tumble, including Vertex Pharmaceuticals or Amgen . Vertex Pharmaceuticals has rallied 69.5% since the Nasdaq-100 closed at a record. Earlier this month, the company reported better-than-expected quarterly results and hiked its full-year outlook.
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