Tesla is not alone: ​​18 (and a half) other big stocks head for their worst year on record

Tesla Inc. TSLA
is having the worst year among the group of constituents of the S&P 1500 with a market capitalization of $30 billion or more is heading for record annual percentage declines. Tesla shares are down 65.4% so far this year, which would easily be the worst year on record for the popular stock, which has had only one negative year since its IPO in 2010, a drop of 11% in 2016.

Tesla may not be the worst decliner on the list by 2023, however, as another Silicon Valley company is hot on its heels. Meta Platforms Inc. META,
Facebook’s parent company, has fallen 64.2% so far this year as Chief Executive Mark Zuckerberg has been content to spend billions to grow the ‘metaverse’ even as the ad industry online that provides him with the bulk of his income has stagnated. It would also only be the second year in Facebook’s history that the stock has fallen, following a 25.7% drop in 2018, although the shares ended Facebook’s 2012 IPO year at 30% less than the original IPO price.

Only one other stock could face Tesla and Meta’s record lows this year, and Tesla CEO Elon Musk is also familiar with this company. PayPal Holdings Inc. PYPL,
where Musk first rose to prominence during the dot-com boom, has shrunk 63.2% so far this year as executives refocused the company on attracting and retaining users of great value instead of trying to get as many users as possible on the payment platform. It would be the second straight year of decline for PayPal, which hadn’t seen this until 2021 since its split from eBay Inc. EBAY
in 2015.

None of the other companies headed for their worst year but are unlikely to lose more than half their value this year, although Charter Communications Inc. CHTR
is near. Shares of the telecoms company have so far fallen 48.2% as investors fret over major spending plans in 2023 to try to reverse falling internet subscriber numbers.

In addition to the list below, Class C shares of Alphabet Inc. GOOG
experiencing their worst year on record with a 38.4% decline. However, MarketWatch does not include this in the list, as Alphabet’s Class A shares GOOGL
55.5% drop in 2008; the separate class of non-voting shares was created in 2012 to allow the company – then still called Google – to continue issuing stock to employees without diluting the control of co-founders Sergey Brin and Larry Page.

Besides this portion of Alphabet stocks, here are the 19 big stocks heading for their worst year, based on Thursday’s closing prices.