Bitcoin (BTC) continues to get all the negative attention for its recent poor performance, which saw the flagship crypto fall more than 50% from its peak in November. But several well-known stocks have had it even worse. The following 5 large-cap stocks all posted declines above and beyond Bitcoin since their 52-week highs.
A recap of BTC price since ATH
Bitcoin rallied to an all-time high of $69,044 last November, but its poor performance since touching that peak has received more attention across the markets than has been directed to some of the stocks to see massive hammering since their 52-week peaks.
While Bitcoin fell 50% from its ATH, the above stocks are among several Wall Street giants that have tanked even more from their recent highs.
Let’s have a look at five stocks that have proven to be an inferior investment compared to Bitcoin when compared to their all-time highs.
1. Moderna Inc. (MRNA)
Shares of drug company Moderna Inc (NASDAQ: MRNA) rallied to highs just shy of $500 on 10 August 2021. With current prices at around $146, Moderna stock is down 70%. With the global Covid-19 pandemic showing signs of easing, investors are looking at this is a headwind for the vaccine maker.
The CEO Stephane Bancel has acknowledged this possibility, stating that its ‘reasonable’ to think the pandemic is approaching its final stages.
2. PayPal Inc. (PYPL)
The Paypal Holdings Inc (NASDAQ: PYPL) stock has had a rough ride over the past two months, with the rot since its peak exacerbated by investors’ move into value stocks as tech stocks dumped.
Earlier this month, the payments giant released disappointing fourth-quarter
