The super stock selloff of 2022

By Scoop
April 4, 2022 · less than 3 min read

A handful of Wall Street’s darlings chalked up their worst ever quarterly performance in Q1. 

What goes up… 

Wallet feeling a little light? We thought so. The first quarter of 2022 has been something of a bloodbath for tech stocks. From Meta Platforms to Keysight Technologies to Match Group, it hasn’t been a pretty time for tech. 

Oh, you weren’t invested in tech? Well, wipe that smile off your face – there’s more bad news. It wasn’t just tech stocks that got clipped, with PayPal and Etsy chalking up Q1 declines of 37.9% and 43.3% respectively. That’s a lost market capitalization of just under $100 billion between them.  

Flying too close to the sun 

What links these big Q1 losers? First of all, lots of them were excellent pandemic buys. Etsy nobly led the way on producing medical equipment, Meta was considered a safe bet, and with the dating game heading online during the pandemic, why wouldn’t Match Group have a whale of a time? 

But Q1 has been wall-to-wall inflation chaos, and the small matter of a full-scale invasion in Europe has led investors to get a little bit jumpy. So, while these investments might have been saviors during the hard times of yesteryear, it was only a matter of time before some of them came crashing back down to earth.  

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