Number of Nasdaq Stocks Down 50% or More Is Almost at a Record By Bloomberg – Investing.com

Number of Nasdaq Stocks Down 50% or More Is Almost at a Record By Bloomberg – Investing.com

(Bloomberg) -- A near-record number of tech stocks have plunged by some 50% in an echo of the dot-com crash.

Roughly four in every 10 companies on the Index have seen their market values halve from their 52-week highs, while the majority of gauge members are mired in bear markets, according to Jason Goepfert, chief research officer at Sundial Capital Research. 

“Whatever the fundamental and macro considerations, there is no doubt that investors have been selling first and trying to figure out the rest later,” Goepfert said in a note.