214 comments for “The 1001 Imploded Stocks of 2022 (Down 80% or More)… So Far”

1. hcb doll says:

   Oct 17, 2022 at 8:35 am

   This seems off; typo?

   | 134 | BEST | BEST ADS -98 | 43948% | |

   • Wolf Richter says:

     Oct 17, 2022 at 11:59 am

     Column formatting messed up (moved -98 to left and converted the date into percent. Thanks.

   • Wisdom Seeker says:

     Oct 17, 2022 at 12:15 pm

     There were also places where I was trimming the company names using find/replace, and deleted, say, Corp instead of Corporaton, so the name has some surplus letters on the end. Find/Replace on Corporation (which I did first) should have worked, but if Corporation was misspelled, it got missed.

     It’s pretty clear NASDAQ doesn’t adequately spellcheck their records. I wonder if I could get paid to help them out there…

     • Cas127 says:

       Oct 17, 2022 at 1:11 pm

       Thanks for doing all this work…it had to have taken a fair chunk of time.

       One thing I notice right off the bat – the large percentage of bio/pharma type stocks (I very roughly estimate 30% to 33% of the entire list).

       This is in keeping with my long (long) term observation that an amazing number of obscure bio startups (usually zero revenue) make it to IPO…habitually.

2. Leo says:

   Oct 17, 2022 at 8:36 am

   One more year of QT and you will see following in the list showing up in following order:
   1. Meta, Tesla, AMD
   2. Netflix, Boeing, Uber, Lyft
   3. Alphabet, Apple, Intel

   • JD says:

     Oct 17, 2022 at 8:53 am

     You lose credibility predicting the end of Apple and Google. If those companies don’t exist in 12 months, chances are we’re living in a Mad Max world.

     • Mario F says:

       Oct 17, 2022 at 9:47 am

       What are you talking about? No one is saying they’re not going to exist in 12 months. The list just says they’re down 80% from their peak.
       Blackberry is on the list. They’ve been a solid business for the last 20 years… =)

       If we have another 50% left in the downturn, we could easily see those companies down 80% from their peaks. Remember the dotcom bust? Same thing happened to Cisco, Apple and Microsoft then.

       • Ross says:

         Oct 17, 2022 at 2:55 pm

         If so, buying opportunity! The market consistently overcorrects. I bought AAPL after 80% decline in 2001. It has grown to be the 800 lb gorilla of my portfolio. Buy when there’s blood in the water.

       • SolomonDreamed says:

         Oct 18, 2022 at 12:15 am

         You do know Google is only down 33% from it’s all time high and has a 19 P/E today? Don’t believe the hype.

       • Leo says:

         Oct 18, 2022 at 7:45 am

         Alphabet needs to correct 60% only to reach Prepandemic sanity. That will automatically happen as excess pandemic Era bank balances are drained.

         Then from there recession will hit alphabet hard because, the first thing companies cut on during recession is advertisement expense and thats what Google earns. So a 50% drop for Alphabet from Prepandemic bubble, just like the 50% drop during 2007, is very much possible. There is QT now and 4% interest rates.

     • Leo says:

       Oct 17, 2022 at 9:49 am

       I am not predicting their end. I am saying their stocks are inflated on growth expectations that will not be realized, causing valuations to adjust.

       • Augustus Frost says:

         Oct 17, 2022 at 10:11 am

         Misread your post.

         I agree AAPL and all these stocks will lose more than 80% from the peak eventually. It’s revenue and earnings are grossly inflated from the credit mania.

     • Leo says:

       Oct 17, 2022 at 9:55 am

       Also, Meta is already down 66% AMD 65% and Tesla 50%. You are losing credibility by saying they won’t reach 80% with one more year of QT.

   • 2banana says:

     Oct 17, 2022 at 8:56 am

     Some of those companies actually make money.

     Some even pay a dividend

   • Zach p says:

     Oct 17, 2022 at 9:29 am

     Apple is sitting on billions of cash. They aren’t debt riddled.

     • Wolf Richter says:

       Oct 17, 2022 at 12:26 pm

       Apple has $62 billion in cash and $137 billion in short-term and long-term debt. That’s still a pretty decent balance sheet. It borrowed all this money to buy back its own shares. So here you go: it levered up its balance sheet to keep its earnings per share from deteriorating.

       I don’t worry about Apple defaulting on its debts anytime soon, but I do worry about its stock price.

       • Yort says:

         Oct 17, 2022 at 4:26 pm

         Wolf – I think it is great that you have guest writers talking directly about stocks. I think there is an audience for even writing articles about single stocks at times, as more and more sites are being blocked behind pay walls nearly every week.

         Plus great to finally find an article concerning “Hyper-Deflation”…HA

       • Bet says:

         Oct 17, 2022 at 8:19 pm

         Stock price goes up on the Hope of growth. AAPL can have a ton of cash. But if growth stalls then it becomes overvalued , which it is now . Aapl can see 70 to 80 in the coming months

     • Tom S. says:

       Oct 17, 2022 at 2:25 pm

       If AAPL drops that’s when the real fireworks start. Down only 1% over the past 12 months (although down 22% YTD). That’s the only stock I’m watching at this point, everything else is just traders taking their hyped-up tech junk out behind the woodshed.

       • Shiloh1 says:

         Oct 17, 2022 at 6:25 pm

         AAPL heirloom stock, just like GE used to be.

   • Augustus Frost says:

     Oct 17, 2022 at 9:42 am

     As bearish as I am, you are way off base.

     • Augustus Frost says:

       Oct 17, 2022 at 12:45 pm

       Misread other commenter’s post

   • Magnesium Sulfate says:

     Oct 17, 2022 at 10:47 am

     Lyft is already in this list, -83%

     • Moosy says:

       Oct 17, 2022 at 6:09 pm

       Zoom and zillow are also proud member.

       Just fascinating how quick they can fall

   • Z33 says:

     Oct 17, 2022 at 5:27 pm

     Hmm…not sure how those could lose 80% from peak to trough as the Fed would probably step in by then (esp Alphabet and Apple). M2(SL) is already at nearly 22T. FRED used to compare total stock market cap via Wilshire 5000 to M2, but discontinued when switched to monthly M2SL. We’re at 1.70 right now (37k Wilshire to 21.7T M2SL). Fed stepped in during COVID at 1.5. For the GFC/housing bubble and bust they waited a lot longer before being aggressive with QE and let it go down to under 0.9.

3. 2banana says:

   Oct 17, 2022 at 8:44 am

   Why?

   “But 866 is a weird number.”

   • Wisdom Seeker says:

     Oct 17, 2022 at 9:00 am

     Not a round or memorable number. Also not clear what the base or normal level of bargain stocks was.

     • Wisdom Seeker says:

       Oct 17, 2022 at 9:01 am

       1001 reminds me of Arabian Nights – every one of these sticks has its own story too.

       If the list grows to, say, 1500 we’ll have to do an update…

       • MarketMissing says:

         Oct 17, 2022 at 1:54 pm

         Oh yes please! This breakdown of information is great! Thanks ☺️

       • Nat says:

         Oct 17, 2022 at 6:00 pm

         Can you resort back on using bold frame around your replies? It is very helpful for those who doesn’t have time to read all the comments. Thanks for the reports.

     • Gattopardo says:

       Oct 17, 2022 at 12:07 pm

       WS…Thanks for the work on this. Well done. Excellent contribution.

       • NBay says:

         Oct 24, 2022 at 7:52 pm

         Yeah, Thanks much!

     • Yort says:

       Oct 17, 2022 at 4:34 pm

       Like when the SP500 recently moved 5% in one day bouncing off the rounded “3500” number (plus 50% retracement from March 2020 low mega-confluence)…humans LOOOOVE rounded numbers for some odd reason.

       Maybe our future A.I. over-lords will find our love of rounded numbers cute in a “pet-like” way and allow us to exist…so perhaps good thing, right??? HA

     • Felix_47 says:

       Oct 18, 2022 at 1:32 am

       Thank you for doing this. I would love to see the other tranches up to 50%. There is little to like in this list but there might be gold in the trash heap at 60% drop. But again thanks so much. This is really good analysis and reporting. And thanks to Wolf Street.

4. 2banana says:

   Oct 17, 2022 at 8:49 am

   There are a few with “blockchain” in the company name…

   So much for that gimmick.

   But none with “Crypto” – so that still works.

   • Wisdom Seeker says:

     Oct 17, 2022 at 11:18 am

     MicroStrategy is on the list though.

   • Old school says:

     Oct 18, 2022 at 6:35 am

     Wall Street makes a lot of money peddling crap to the masses. Isn’t average pay at these firms about $500K per year for shearing sheep. God’s work is what Lloyd B. called it.

5. Djreef says:

   Oct 17, 2022 at 8:50 am

   BofA just announced that spending hasn’t come down in the recent quarter.

   This is going to take awhile. Many commodities are moving back up. I don’t think we’re going to slow this train any time soon.

   • Depth Charge says:

     Oct 17, 2022 at 11:40 am

     Still waaaaayyy too much money sloshing around. I have a long memory. I distinctly remember what 2005/2006 vs 2008/2009 were like. During the halcyon days of 2005, traffic and commerce was bustling. Roads were packed. By 2009, there were failing businesses everywhere. There was no traffic.

     There is more traffic and commerce right now than there was in 2005. We are nowhere near a collapsing economy. I have anecdotes I look at that will tell me when we have turned a corner and things are softening considerably. I have seen nothing thus far.

     And as we see today, another wall of money has just come in to BTFD on Wall St., in crypto, etc. The FED is too slow with QT. WTF are they waiting for, anyway? I think they’re scared of QT.

     • Old school says:

       Oct 17, 2022 at 3:17 pm

       A lot of people could have saved themselves some money by reading Ben Graham’s book or Warren Buffet’s annual letters. You want a long history of company making money and don’t overpay.

     • DawnsEarlyLight says:

       Oct 17, 2022 at 3:40 pm

       A sh1tload of money! Money is not destroyed, it goes somewhere! Pay no attention to the man behind the curtain. It’s just another show.

       • phleep says:

         Oct 17, 2022 at 4:06 pm

         > Money is not destroyed, it goes somewhere!

         I beg to differ. But I will humbly stand corrected by someone with a good argument.

         a. An asset appears on a balance sheet at a valuation expressed in money. If honest, it can be cashed in for that price today. The owner’s wealth is adjudged to be that amount of money.
         b. Demand for the asset disappears. The valuation collapses. The balance sheet holder is poorer in terms of money. That once, real money figure just … disappears. becomes zero. No buyer means zero asset value means no money anywhere in sight. The asset is still there. Owner is insolvent.
         c. Money supply collapsed in ’29-’32. Where did it go? If it hadn’t disappeared, why did nobody have any? It was ALL being hoarded somewhere?

       • JeffD says:

         Oct 17, 2022 at 4:22 pm

         “It was ALL being hoarded somewhere?”
         The hoarders were dipping their $100 bills in the fireplace to light cigars.

       • Wisdom Seeker says:

         Oct 17, 2022 at 5:31 pm

         @phleep: The base money in the US system (the dollar, a unit of credit) is created by the Fed and cannot be destroyed except by the Fed. It can only be traded.

         But in the financial world, valuations are elastic. Market valuations are just a consensus opinion based on the price set by the most-recent marginal buyer and seller. That changes as quickly as people can change their minds.

         Someone who owns highly-valued assets, but thinks they “have money”, is fooling themself. Sadly there’s a lot of incentive to fool people into overpaying.

         P.S. The dollar is just a particular asset. Its value can be enhanced or destroyed, even if its quantity cannot be changed by anyone outside the Fed.

       • Shiloh1 says:

         Oct 17, 2022 at 6:28 pm

         A debt paid off or a debt defaulted destroys money.

       • HowNow says:

         Oct 18, 2022 at 4:01 am

         Phleep, I think that the only way money is destroyed is through devaluation. An asset (thing) may lose its value entirely or even be consumed, but the money used to purchase it simply moves from a buyer to a seller. WS’s point that money can devalue to the point where all confidence has been lost, that currency can evaporate in value in which case the value or utility of that money will disappear.
         If gold coins were in circulation as units of value, it too could be destroyed if Rumpelstiltskin scaled his gold spinning into franchises which flooded the market with gold.

       • DawnsEarlyLight says:

         Oct 18, 2022 at 2:41 pm

         Ha ha, thanks! I was hoping to get some real world reality replies to this statement!

       • NBay says:

         Oct 24, 2022 at 8:03 pm

         Again I want to mention our local Pomo Indians (mostly killed off per CA State Law since they “never could/would adapt to our “civilization”) used base 8 for counting. They counted the empty space between their fingers, as they knew numbers are NOT real.

         Stupid savages?

     • JeffD says:

       Oct 17, 2022 at 4:18 pm

       “Still waaaaayyy too much money sloshing around.”
       Which is why QT needs to be accelerated and rate hikes need to be slowed.

6. Djreef says:

   Oct 17, 2022 at 8:54 am

   So, how many of these are under bankruptcy protection? The real party doesn’t start until the Chapters start being filed.

   • CreditGB says:

     Oct 17, 2022 at 10:00 am

     Chapter 7 is a liquidation, they gave up, closed, and liquidating all.
     Chapter 11 is a reorganization, and a plan is required going forward that tells the court and creditors just how they plan to survive. Creditors vote on it and the courts approves it.

     For those cash burner machines, their reorganization plans would likely make for a roaring good comedy.

     • Djreef says:

       Oct 17, 2022 at 10:57 am

       I suspect that Chapt 7 will emerge as the dominant filing for many of these companies. There really isn’t much to liquidate in many cases, and those who are major stakeholders have long since popped the escape hatch.

       • phleep says:

         Oct 17, 2022 at 4:08 pm

         Their assets were dreams and gabby salespeople.

       • Bead says:

         Oct 18, 2022 at 7:23 am

         Slide deck souvenirs

7. Holland Oates says:

   Oct 17, 2022 at 9:00 am

   What’s up with 134 ???

   • Wolf Richter says:

     Oct 17, 2022 at 11:58 am

     Column formatting messed up (moved -98 to left and converted the date into percent. Thanks.

8. Stephen says:

   Oct 17, 2022 at 9:04 am

   Looks like a Johnny Cash song – ‘Down, Down, Down, that ring of fire.

9. Implicit says:

   Oct 17, 2022 at 9:13 am

   Don’t know this for sure, but pharma/medical appear to be the largest goup in the list. Thanks for your work WS.

   Some recognizable names there- overstock, lyft, Bed, bath and beyond , docusign, rite aid, roku, lending tree…

   • Hardigatti says:

     Oct 17, 2022 at 11:14 am

     I too noticed the overrepresentation of pharma, bio, health companies in the imploded list. I wonder how many of these companies sprung up during the pandemic to soak up the “free” money.

     • Shiloh1 says:

       Oct 17, 2022 at 6:31 pm

       “Which way did the Insiders go? “

       “They went that-a-away.”

       Laughing all the way to the bank!

     • JohnnySacks says:

       Oct 17, 2022 at 9:08 pm

       PacBio was a head scratcher. We buy and use their long read genome sequencing machines. Not garbage by any means.

10. polistra says:

    Oct 17, 2022 at 9:15 am

    Impressive work. In simple terms, this is a list of all stocks with Pharma or Gene or Therapeutics in the name.

    All of them jumped with fake hope when the lockdown lunacy began, then collapsed when people figured out what was really happening.

    • Xaver says:

      Oct 17, 2022 at 9:42 am

      It’s just too easy to get funds from investors / gamblers in the biotec space. A lot of money is wasted there. But it’s good for big pharma. They can let others pay for their research.

      • Wisdom Seeker says:

        Oct 17, 2022 at 12:17 pm

        Yes. I’ve been watching these lists for several years, and if memory serves, there were always a lot of small startup biotechs in the index listings. I don’t think that’s specifically a COVID thing.

        • Petunia says:

          Oct 17, 2022 at 3:12 pm

          It’s a too much money wasted on “healthcare” thing.

        • HowNow says:

          Oct 18, 2022 at 4:10 am

          Not much different than “wildcatting” in the oil patch.

        • NBay says:

          Oct 24, 2022 at 8:16 pm

          If you read original research a lot, like I do, you’ll see most end with “may have therapeutic value for…..”
          Most grant money comes from those seeking even more “magic bullets”……to sell.

          “Biology means nothing outside of the context of evolution”
          -Theodosus Dobzhanski
          (Am sure I trashed spelling.)

          “There are no laws in Biology, only gadgets”
          -Francis Crick……yeah, That guy.

    • polecat says:

      Oct 17, 2022 at 11:00 am

      Don’t worry. I’m betting that Darpa will lift and separate wheat from the chaff, fronting/absorbing those with ‘promise’…

11. Flea says:

    Oct 17, 2022 at 9:17 am

    For wolf are u aware Switzerland is withdrawing 10 billion in 2 weeks from FRB

    • Wolf Richter says:

      Oct 17, 2022 at 12:17 pm

      1. Your statement is wrong: these are 7-day swaps. The $3.1 billion swap of Oct 5 already matured and is gone. The swap of Oct 12 of $6.27 billion is still outstanding and will mature on Oct 20. So the total outstanding right now = $6.3 billion, not “$10 billion.” The idiot blogger where you read “$10 billion” doesn’t know even the basics of how swaps work.

      2. $6.27 billion in swaps with the SNB? So what!!! they could just sell $6.27 billion of their $140 billion or so in US stocks, hahahaha

      3. This is why you’re in moderation (you asked why, and now you confirmed why): because you keep dragging this BS into here that you read on some idiot’s site. And then I have to waste my time shooting it down.

      • DawnsEarlyLight says:

        Oct 17, 2022 at 3:42 pm

        Great explanation Wolf. It cleared the picture.

      • Flea says:

        Oct 17, 2022 at 3:53 pm

        Sorry didn’t understand, content of article never stated they were swaps

        • Wolf Richter says:

          Oct 17, 2022 at 5:15 pm

          Headline-spreading gets people in trouble all the time. Just say No. I think you got the message, so let’s try it again. You’re good to go.

12. Richard Greene says:

    Oct 17, 2022 at 9:17 am

    This list is ridiculously long and includes far too many companies no one ever heard of. This was a waste of time.
    Next time focus on well known companies that many people and funds own. People wonder how companies they know, such as Apple, have done in this bear market. But who cares about companies called Antelope Enterprise Holdings?

    A grade of “D” for excessive data mining.

    • Wisdom Seeker says:

      Oct 17, 2022 at 9:35 am

      A reasonable comment. Wolf covers the well-known stocks fairly often. But some of us want to know more.

      I explained my interest in the article. I might add that someone interested in deep-value investing might start from this sort of list and do further screening to look for the next generation of major turnarounds. For example, Amazon and Apple were both 80% off after the dot-com bust 2000-2003…

      • Djreef says:

        Oct 17, 2022 at 9:43 am

        This is also important for another reason. These zombie corps will be the first dominos to fall when things start to get really bad. Bankruptcies beginning from this list will be the starting gun.

        • Wisdom Seeker says:

          Oct 17, 2022 at 11:23 am

          Bankruptcies have already begun, or at least delistings. I found where to get the delisting data from the exchange website, but haven’t pulled it together (yet?).

      • rojogrande says:

        Oct 17, 2022 at 10:11 am

        I think it’s worthwhile to know that around 1 in 6 common stocks have imploded (particularly if you were to include delisted stocks). Among other things, it gives me an idea of the extent of the carnage below the large caps that form the indexes. Thanks for sharing it.

      • Ricky says:

        Oct 17, 2022 at 11:37 am

        WS

        “But some of us want to know more.”

        And some, want to know much more. Thank you for this! I appreciate the time and effort you put into your work and sharing it with us. Hat tip to Wolf for providing the platform.

        You are right. There are some people interested in deep – f’n – value and this can definitely serve as a launch pad into a Due Diligence Deep Dive.

        Right off the bat I’m seeing a lot of these unknown (to most), small(er) cap companies, sharing similar peak dates: End of Jan – Feb 2021.
        It will be interesting to see how many of these appear to be the result of “runs” that may have been triggered by the 01/21 GME gamma squeeze. There was also the 300% increase (GME) from 02/24 to market open on 02/25 which may have been due to FTD’s? All of this price action, occurring at different companies, within a 30-day window is intriguing.

        Further, the manner of how these companies declined, since then, will be worth taking a look at too. Especially, if they move follow similar trend-lines while being in difference sectors.

        I wonder if you already noticed this and may have put together some chart comparisons yourself?

        • Wisdom Seeker says:

          Oct 17, 2022 at 12:25 pm

          Thanks. Wolf posted several times about how the speculative-frenzy portion of the market peaked last February-May, and that’s reflected on this list.

          Wolf has a spreadsheet version of the list which maybe he can share. The median “peak price” date was 2/9/2021. About 160 companies peaked in the week of Feb 8-12, and another 100 peaked the following week. So about 1/4 of the Imploded stocks hit their high point together.

          Fewer than 100 of these peaked after July 2021. But then again it takes time to implode by 80%, so it’s likely that more stocks which peaked with the rest of the market last fall/winter will start to show up on the list.

          To answer your last question, no, I haven’t done a lot of detailed analysis yet. My day job and kids keeping me busier than usual!

        • Wolf Richter says:

          Oct 17, 2022 at 12:37 pm

          Great info on the median date of the high. I updated your article with it so everyone can see it.

      • Jon says:

        Oct 17, 2022 at 11:48 am

        I am really grateful for your hard work! Critics are people too lazy to do their own work, but feel the need to have an opinion.

        Thanks.

        • Jon says:

          Oct 17, 2022 at 11:49 am

          This comment is for Wisdom Seeker, and Wolf, for allowing this to be posted.

      • HowNow says:

        Oct 18, 2022 at 4:16 am

        I disagree. Richard Greene’s comment was not reasonable. If he doesn’t like what you’ve done (“thank you”, incidentally) he can shut the ++++ up. How self-centered can you get?

    • Augustus Frost says:

      Oct 17, 2022 at 9:45 am

      It’s quite relevant to anticipate what’s going to happen to the labor market.

      I’d be interested to know how much combined employment these companies represent and how many layoffs have occurred to date.

      Based upon the reported data, it hasn’t been significant yet but if not, it’s not sustainable later.

    • rick m says:

      Oct 17, 2022 at 11:08 am

      Well known companies that are widely held are exhaustively discussed in the financial media already. My unstudied guess is that many who read here are seeking insight beyond that. Our host’s articles and a preponderance of the commentary are distinctly a cut above the rest. This list is interesting and provides points of departure for inquiring minds. Almost everything that’s put in front of you these days is some kind of sales pitch, designed to steer the unwary into somebody’s income stream without a paddle. Wisdom Seeker’s efforts are appreciated. Sad about Tupperware

      • HowNow says:

        Oct 18, 2022 at 4:30 am

        Yeah, Tupperware is the Kodak of plastic containers.

    • dougzero says:

      Oct 17, 2022 at 11:08 am

      RG: Maybe read another blog?

      Thanks for this unorthodox approach. I found it interesting. I picked a few that I could not figure out what the name meant and looked them up.

    • Poor like you says:

      Oct 17, 2022 at 11:43 am

      “Who cares about Antelope Enterprise Holdings?”

      I’m sure their shareholders do.

      • Wisdom Seeker says:

        Oct 17, 2022 at 12:29 pm

        And 236 employees.

        Some of these companies have tens of thousands of employees and tens of billions in market cap even now, after falling 80% or more.

        The distribution of corporations by size (employees market cap, revenues) generally follows a power-law distribution. There are tons of smaller companies, but exponentially fewer larger ones. So it’s not surprising that the list will have a lot of smaller no-name companies on it.

        • Immutable says:

          Oct 18, 2022 at 1:05 pm

          I love seeing the clever names coined by many of these companies!

    • Depth Charge says:

      Oct 17, 2022 at 11:46 am

      “A grade of “D” for excessive data mining.”

      I couldn’t disagree more. In fact, it looks like somebody just woke up on the wrong side of the bed and wanted to piss in someone else’s coffee.

      • Poor like you says:

        Oct 17, 2022 at 3:22 pm

        Envy, perhaps?

    • ursel doran says:

      Oct 17, 2022 at 11:47 am

      Now that the BEAR stock market following the biggest “Stock Market Mania” is for sure confirmed, how far is down?
      “Our most reliable equity market valuation measures project 10-12 year S&P 500 total returns near zero, implying that the “equity risk premium relative to bonds is still negative. Likewise, bond yields remain inadequate relative to prevailing inflation.”
      https://www.hussmanfunds.com/comment/mc221016/

      • Augustus Frost says:

        Oct 17, 2022 at 12:58 pm

        According to Hussman’s articles, “fair value” based upon today’s fundamentals is about S&P 1200, a 75% loss from the peak.

        Considering that manias regularly retrace below the starting point and the fundamentals will be a lot worse, 1200 is optimistic.

        A retrace of the entire post-GFC advance would be a loss of slightly over 85%, back to S&P 666.

        A retrace of the entire mania dating back to 1995 would be somewhat over 90%, like S&P 400-450. This is my prediction decades from now, possibly adjusted for price changes and excluding dividends. The 1966-1982 bear market (with nothing close to a mania at the 1966 peak) resulted in about a 75% inflation adjusted loss in the DJIA. I don’t recall the S&P.

        • VintageVNvet says:

          Oct 17, 2022 at 1:44 pm

          Some of us ”old timers” on here,,, mostly, IIRC ”preboomers,” who have seen this situation before, had predicted S&P 15-1800 and Dow about the same percentage in early 2020.
          Glad to see some of you boomers and subsequent agreeing…LOL, though now seems possible we were way too optimistic… Time will Tell, as always.
          But, due to incredible interventions from various and sundry and now extensive GUV MINT and such,,, who can tell…
          System based on strictly anecdotal interventions is actually NO system at all,,, and while some claim being IN the SM since early 1980s,,, some of us have been OUT of SM since then, based mostly on fundamental LACK of basic information available to the BIG boys, totally lacking for WE the PEONs,, or in the case of the SM,,, WE the PEEDONs…

        • Yort says:

          Oct 17, 2022 at 3:14 pm

          Somewhere between ” Hussman” and “ZH” and “Tom Lee” is base reality of how global markets will behave over the next 10 years. You can count on one hand the number of global actors who have the macro power to nudge global finance towards radically divergent paths, thus why JPOW’s every world is treated like a cultist religion by society caught up in this grand financial experiment.

          “Quantitative Destruction” at the moment, but the next few nanoseconds is anyone’s guess…

    • Wolf Richter says:

      Oct 17, 2022 at 12:18 pm

      Richard Greene,

      Grow up.

      • Wisdom Seeker says:

        Oct 17, 2022 at 12:54 pm

        Not everyone wants every detail. Wolf, I know you’ve covered a lot of these, but to feed further efforts, here are the 59 stocks that I think would be most widely recognized. Some have brands that have been dying for years, others spiked too high too fast in the bubble, and some must be case studies in poor management because the business should be doing fine:

        AMC Movie Theaters
        APRN Blue Apron (Meals)
        BB BlackBerry
        BBBY Bed Bath & Beyond
        BHC Bausch Health (Bausch & Lomb)
        BLDP Ballard Power (Fuel Cell Vehicles)
        BTTR Better Choice (Pet Food)
        BYND Beyond Meat (Vegetarian Food)
        CHGG Chegg (Online Learning)
        CSSE Chicken Soup for the Soul
        CVNA Carvana
        DBD Diebold Nixdorf (ATMs)
        DKNG DraftKings
        DOCU DocuSign
        EHTH eHealth (Online Healthcare)
        EXAS Exact Sciences (cancer detection)
        FLWS 1-800-Flowers.com
        FOSL Fossil Group (Luxury Goods)
        FUBO fuboTV (Streaming Sports)
        GCI Gannett Co. (News Media)
        GOEV Canoo (Electric Vehicles)
        GRIL Muscle Maker Grill
        GRPN Groupon
        IAG Iamgold (Gold Miner)
        KODK Eastman Kodak
        LE Land’s End (former Sears brand)
        LTRPA TripAdvisor (Travel Services)
        LYFT Lyft (Ride Services)
        MESA Mesa Air Group (Airline)
        MSTR MicroStrategy
        NEGG NewEgg Commerce (Electronic e-Retailer)
        NGL NGL Energy Partners (Oil & Gas Midstream)
        NKLA Nikola (Electric Vehicles)
        NVAX Novavax (Vaccines)
        OSTK Overstock.com
        PARA Paramount (Entertainment, Movies…)
        PRLB ProtoLabs (3D Printing / Manufacturing)
        PRTS CarParts.com
        PRTY Party City
        PTON Peloton (Exercise Bikes)
        RAD Rite Aid (Pharmacy)
        RDFN Redfin (Real Estate Services)
        RIDE Lordstown Motors
        RNG RingCentral (Business Communications)
        ROKU Roku
        RRGB Red Robin (Restaurants)
        SHOP Shopify (Online Store Creation)
        SMG Scotts Miracle-Gro (Fertilizer)
        SNAP Snap Inc. (SnapChat)
        SQ Block (Square – Retail Payment Processing)
        TDOC Teladoc Health (Online Healthcare)
        TREE LendingTree (Consumer Lending)
        TUP Tupperware Brands
        TWLO Twilio (Cloud Communications)
        VLDR Velodyne Lidar (Vehicle Sensors)
        W Wayfair (Home Products online retail)
        WBD Warner Bros. Discovery
        Z Zillow (Real Estate Services)
        ZM Zoom Video (Online Meetings)

        • Wolf Richter says:

          Oct 17, 2022 at 1:03 pm

          yes, and many of them are featured in my Imploded Stocks or elsewhere on my site (my Imploded Stocks series started in the spring of 2021), each with its own stock chart.

          The value — and dark humor — of this list of 1001 stocks is that it’s 1001 stocks, and not 50 or 60.

        • MarMar says:

          Oct 17, 2022 at 1:28 pm

          Twilio really jumps out to me. If they can cut their overhead they’re well placed for growth.

        • JeffD says:

          Oct 17, 2022 at 4:05 pm

          The easiest way to get at this is probably an ascending sort by “peak market cap”. I was disappointed that was not the default order.

        • JeffD says:

          Oct 17, 2022 at 4:07 pm

          … descending.

        • Anonymous Coward says:

          Oct 17, 2022 at 8:04 pm

          Haven’t looked at their financials, but from a product perspective BYND, DOCU and ZM seem to have solid enough product offerings to survive this stand alone or be bought out.

        • 728huey says:

          Oct 18, 2022 at 10:01 pm

          I thought Paramount was a subsidiary of Viacom-CBS.

        • jimbo says:

          Oct 19, 2022 at 12:41 am

          Interesting list.

          I see very few oil and gas companies on 1001 list. I see a few ADR’s which look like mostly Chinese companies.

          I don’t see any Japanese companies.

          When one looks at various factors in countries around the world, the USA stands out as having the worst scenarios of all.

          It doesn’t matter what you are looking at either.

          if one is going to invest then all sorts of factors other than finance and economics need to be looked at too.

          The finance and economics are important so you have to look at inflation, debt, valuations, interest rates and so on, but other factors such as education, social stability, and crime matter too.

          When all of that is taken into account I would rather put my money in Japanese companies than is US ones.

          Sure, Japan has several problems such as an aging population and a minor debt problem (I say that because the debt structure and ownership is completely different than in the USA and the amount of savings people and companies ex banks in Japan is huge compared to the USA), but the social stability and other factors will ensure a better operating environment that in the USA.

          Better education, social cohesion, and little crime offer better operating environments for companies.

      • ace says:

        Oct 17, 2022 at 1:23 pm

        In Richards defense, none of the 1001 use real money. they all trade in monopoly money. therefore, the incineration and impact is not real. Richard is correct–fake news.

        lol

        • Yort says:

          Oct 17, 2022 at 3:36 pm

          PARA-Paramount Global (previously named ViacomCBS) actually makes money. Viacom got manipulated from around $15 to $100 a share back in 2021 by “That rich guy who went broke”, and I rode it up to nearly triple my money. Bought back in recently bought below $20 as a longer term investment, but still a gable as the company is competing in a very crowded, big money business. Point being, even the “imploded/trashy” stocks can sometimes make for highly calculated gambles that pay off handsomely. Yet only play with cash that can be burnt without ANY consequences…

    • Cas127 says:

      Oct 17, 2022 at 1:22 pm

      One very useful fact culled from the mass of obscurity…

      the large number (15% to ?%) of very obscure companies that somehow managed to get lugged over the IPO lottery line by hard flacking investment banks (some pretty damn obscure themselves too!).

      Maybe as many as 20% to 25% *of all *publicly* traded US stocks* are really, really obscure.

      But some sharkskin suited investment banker managed to get a minimum of $10 to $30 million cash pumped into the most obscure and economically doomed of these (1000 times over).

      I really wonder if cold calling can account for all this…

      • Wisdom Seeker says:

        Oct 17, 2022 at 3:39 pm

        I’d say it’s more like 50-75% when you include the whole market as opposed to just the 1500-3000 stocks that funds can actually invest in. The other 3000 stocks aren’t liquid enough or are too closely held to be tradeable.

        For biotechs, the equity financing is a common strategy. They These startups can’t borrow (no collateral except unproven IP, and no revenues for years if at all). But for deep-pocket investors they’re like charity donations plus billion-dollar lottery tickets. If the Big Idea doesn’t pan out, the investor gets a nice tax deduction. And if it does, they’re rich. What’s not to like? Especially if you’re also trying to Save Grandma.

        The system isn’t so bad but it does populate the market listings with a lot of low-probability micro-cap stocks.

        • JeffD says:

          Oct 17, 2022 at 4:42 pm

          The figure that made the entire article memorable for me was that 1001 of the 6281 stocks had imploded. That says everything I need to know about how the market works.

        • cas127 says:

          Oct 17, 2022 at 5:51 pm

          JeffD,

          They implode because hardly anybody ever followed/invested in them in the first place…once that small audience loses interest/faith, the stocks go into freefall because there are very, very few others interested in/aware of them.

          In some ways 6000+ public companies is a lot (think of trying to financially understand that many firms in depth) but in some ways it isn’t very many (in a nation of 260 million adults, there is only 1 public company for every 43,000 adults). This ignores foreign investors, but it also ignores foreign public companies.

          In many ways, the media (and the companies themselves) really do a pretty poor job of explaining (in a concise but effective way) what these companies specifically *do*.

          (For a disturbing number, this might be intentional…).

          The best example is how they *name* themselves. (Especially since many people may only ever see their *name*).

          “Advanced Insight Technologies” essentially conveys zero useful invt information.

          “Discount Waffles of Akron” does.

          But the former will give a certain kind of investor (dumb ones) a woodie, while the latter…would not.

          Given the millions and millions (and millions) of worthless Twitter/Facebook/etc feeds, it would be nice if just one were dedicated to streaming 15 concise public company descriptions a day.

          In just over a year, every public company would have at least a paragraph to describe itself.

          Of course, all such info (and much, much, much more) is easily available to be pulled down actively…but there are few *passive* channels for casua broad based review (TV, internet, what have you).

        • HowNow says:

          Oct 18, 2022 at 4:46 am

          To CAS127’s point: Peter Lynch remarked something to the effect that if he’s choosing between two companies by their names, he’d buy Acme Cement rather than Quantum Nanoparticle Accelerator. He also felt that any state-of-the-art technology company’s lunch might be eaten by any one of the multitude of newly minted grad or post grads from MIT, CalTech, et al.

        • HowNow says:

          Oct 18, 2022 at 4:51 am

          Cas127’s (god forbid I write 128) comment was too good to not compliment:
          “But the former will give a certain kind of investor (dumb ones) a woodie, while the latter…would not.”
          Got me laughing out loud at six in the morning.

    • Petunia says:

      Oct 17, 2022 at 3:16 pm

      RG,

      I found the list useful in that it makes clear how much money is wasted on healthcare in the US. I’ll bet most of those companies were getting govt grants too.

      • phleep says:

        Oct 17, 2022 at 4:20 pm

        I think few can imagine a world where government does not, at large scale, recycle and distribute money somewhere. That world has not existing in the USA for at least 90 years.

        Then again, on micro-innovators, think about insects putting out thousands of eggs. Most spawn will be eaten (even eat each other) but a few will survive, and have an impact. I just don’t want to be the sugar daddy for it. I don’t have the capital and tax situation, etc. So, I don’t want my government propping them up. Like ballparks, if for private profit, it should be privately funded. If it loses the money, whose problem is that? The people who took the risks get the losses or rewards. So, maybe some of the tax write-offs are suspect.

        • phleep says:

          Oct 17, 2022 at 4:22 pm

          Government seeded commercial aviation, satellites, computers, advanced communications and encryption, medical innovation via combat surgery, freeways, and the Internet. Oh, and railways too, way back when. Which of these do you want to give back?

        • HowNow says:

          Oct 18, 2022 at 4:56 am

          Certainly not the govt.’s investment in ARPANET.

    • Pea Sea says:

      Oct 17, 2022 at 5:38 pm

      If you’re not interested, don’t read it. Your browser has a back button. I thought it was interesting.

    • Valerie from Australia says:

      Oct 18, 2022 at 5:37 am

      RG: No one held a gun to your head and made you read the post. WS clearly spent a lot of time and effort scrupulously gathering the data that some readers on the site clearly value. I can’t believe your rude comment has gone unchallenged. Consider your hand slapped.

13. Shiloh1 says:

    Oct 17, 2022 at 9:19 am

    How much of this toxic waste found its way into corporate sponsored 401K funds?

    • DawnsEarlyLight says:

      Oct 17, 2022 at 3:51 pm

      Exactly!

      • phleep says:

        Oct 17, 2022 at 4:23 pm

        Is that my problem?

14. Xaver says:

    Oct 17, 2022 at 9:27 am

    It’s a nice list, but it will get even more interesting once we have a longer list of bankrupt stocks. I remember we had such a list after the .com bust.

    • Sign_of_Times says:

      Oct 17, 2022 at 9:57 am

      BBBY has really fallen, years ago a high flyer.

      Interesting story from here in Nassau county. Local paper (Newsday) once listed the top 10 houses with the highest property taxes. This was from a number of years ago. Number 1 on the property tax list was over $600K/year, for a mansion in Old Westbury NY, owned by the founder of Bed, Bath & Beyond.

      Several weeks back the BBBY CFO committed suicide by jumping off his building in NYC.

      Went there over the summer and saw more employees than customers.

      Incredible how things can change.

15. Brian says:

    Oct 17, 2022 at 9:39 am

    Thanks for the great “buy” list! (yes, that’s a joke)

    • Cas127 says:

      Oct 17, 2022 at 1:24 pm

      Catch a falling…axe.

16. BigPapa says:

    Oct 17, 2022 at 9:50 am

    Surprised not to see EMBK or AUR

    • Wisdom Seeker says:

      Oct 17, 2022 at 12:42 pm

      Great catch! EMBK and AUR were on the original stock list and would have passed the scan. But they were 2021 IPOs and didn’t have data going back to the March 2020 COVID lows. And the script I ran only looked at stocks that had data back to the COVID lows in March 2020.

      With all the IPOs in 2020-2021, that should probably be refined.

17. Seen it all before, Bob says:

    Oct 17, 2022 at 9:56 am

    This is an awesome list. Thank You!

    Some are household names. Wayfair, AMC and Bed Bath and Beyond(from the Planet of the Apes) and Lyft, Rite-aid, Docusign, Roku, Redfin, Zillow, and Red Robin.

    How many were in my S&P500 conservative index fund?

    The Dotcom bubble affected many more common names. Is this a trailer for an upcoming future implosion? I’m still waiting for my Cisco and Intel stocks to recover from back then. I gave up on Lucent.

18. Concerned_guy says:

    Oct 17, 2022 at 10:01 am

    Hope (soon) we can see something like this for housing market.

    “X number of cities down XX%.”

    • Wisdom Seeker says:

      Oct 17, 2022 at 11:20 am

      Outside my expertise but I bet someone could do that by zip code and median sale price.

    • Richard Greene says:

      Oct 17, 2022 at 1:00 pm

      Case Shiller is up +16% from one year ago, so there are not likely to be any regions with year over year home price declines

      • Johnny5 says:

        Oct 17, 2022 at 3:07 pm

        Troll?

        Realtor.com’s monthly inventory data by MSA through September 2022 shows over 100 MSAs with y/y declines in the median list price.

        Zillow’s ZHVI (All Homes Time Series, Smoothed, SA) for the month of August shows Boise City, Idaho with Y/Y price increase at 1%. I’m willing to bet that it will turn negative for September. And just to be really pedantic, Fairbanks, AK already has a -6% Y/Y price decrease for their August ZHVI.

        Zillow releases their ZHVI every third Thursday of the month for the previous month, so the September ZHVI comes out this Thursday. I suspect more cities will start showing negative Y/Y ZHVI changes in the coming months.

        Note: I know these aren’t repeat sales indexes like Case-Shiller, but they’re timely and cover way more cities and MSAs than C-S.

    • David H says:

      Oct 17, 2022 at 5:06 pm

      Google “encorebubble” and “price decline map.” Not my work but excellent visualization. They try to update whenever Redfin does.

      • Wisdom Seeker says:

        Oct 17, 2022 at 5:51 pm

        Thanks for the link! This dataset is fantastic. The price-per-square-foot map removes some of the sales-mix mess that afflicts median prices, and is almost as good as Case-Schiller.

        The housing market implosion is gathering speed, and directly affects far more people than the stock market implosion.

19. Natron says:

    Oct 17, 2022 at 10:10 am

    I find it hard to believe that the banker (etc) bubble blowers don’t know exactly what they’re doing, considering how many times they’ve done it.

    This is a feature of the market (capitalism ), not a bug.

    • phleep says:

      Oct 17, 2022 at 4:29 pm

      Fools and their money are soon parted. That is as much a problem with the fools, as with those who position themselves to catch the inevitable dispersion of money. Trade your treasure casually for a dream, a greedy silly hope of getting rich quick, and what do you expect?

      This is true of every food chain. The dumb money aggregates proteins, to be appropriated by the next level up. It is biology. Are you going to bet against that?

      • HowNow says:

        Oct 18, 2022 at 5:29 am

        Hmmm… Karl Marx should have read your comment before he went on about the collapse of capitalism.

20. Brant Lee says:

    Oct 17, 2022 at 10:17 am

    Oh no, not Tupperware too!

    So many healthcare/pharm stocks. Everyone wants a piece of that goldmine.

21. CreditGB says:

    Oct 17, 2022 at 10:22 am

    Great list, thanks for publishing it.

    Maybe “blockchain” has worn out and has been replaced by bioxxxx, pharmaxxxx or theraxxxx for the “smart money” crowd. They seem to be using highly sophisticated tools like Facebook, Twitter, and TikTok to spot these great opportunities.

    Smart money says, after the pandemic, those MUST be great investments, toss a bag load of free money at them, something is bound to stick.

    Wonder on this list, what was the total value lost from their highs to October 14th. Might be interesting figure if available.

22. CreditGB says:

    Oct 17, 2022 at 10:24 am

    Oh, another interesting bit might be the top 10 investors in each. And their average annual net earnings last reporting. Just curious.

23. HollywoodDog says:

    Oct 17, 2022 at 10:28 am

    You have to admit that SeaChange Int’l (SEAC) was aptly named.

    • Harrold says:

      Oct 17, 2022 at 11:18 am

      Katapult Holdings has gone kaput.

24. gametv says:

    Oct 17, 2022 at 10:38 am

    Going to be interesting to see how things react to real earnings. I’m sure there are a few real gems mixed into this list that got thrown out with the trash, but are going to grow rapidly. But timing is everything in this market. Probably the smartest idea is to not be a pig, dont try to buy the exact bottom, but wait for confirmation of a new uptrend to really be solid. And make sure you have a stop loss if you are wrong.

    • Augustus Frost says:

      Oct 17, 2022 at 1:09 pm

      You’re describing a needle in a haystack. If the mania is over, the first bottom won’t be the last but one of many. See 1966-1982 as a precursor and there was nothing close to a mania at the 1966 peak.

      These stocks have collapsed 80%+ and the economy isn’t even in a recession.

      I’d be interested to know balance sheet quality because when the economy heads south in earnest, however many of these stocks are still making money now, most are going to be bleeding red ink later. Given that supposedly “blue chip” companies have mediocre to garbage balance sheets already, I can only imagine what these stable rags look like.

      In the upcoming economic depression, I’d look for most of these companies to get bought out at cents on the dollar or liquidated in bankruptcy court.

      • ru82 says:

        Oct 17, 2022 at 3:09 pm

        Bizzaro world. Stock market dropping for 10 months now while unemployment is shrinking and help wanted signs everywhere. I just read where some WFH programmers have two full time jobs and are making $200k to $600k. Their employers do not know they have two full time jobs though. LOL

        Usually it is the opposite.

        Foreclosures, bankruptcies. Usually when stocks are dropping, people are pulling out money because they have been laid off. Fear is in the street about losing their current job so they sell stocks or stop investing and put the money into savings.

        Not sure what the 3rd Quarter brings but we have beat earning estimates 39 of the last 40 quarters.

        • Augustus Frost says:

          Oct 17, 2022 at 3:39 pm

          “Not sure what the 3rd Quarter brings but we have beat earning estimates 39 of the last 40 quarters.”

          Meaningless

          The whole exercise is a farce designed to convince people to always buy or hold. We’re not going to see actuals consistently fall below estimates because that’s bad marketing.

        • Wisdom Seeker says:

          Oct 17, 2022 at 5:54 pm

          For the S&P500 average, both estimates and actual earnings down sequentially for the past 2 quarters in a row. And the estimates were already cut for the quarter about to be reported, so they could be “beat”.

          It’s quite possible that the last 10 months have been the “smart money” pulling out (despite the mild losses) in preparation for a much larger plunge about to happen.

        • HowNow says:

          Oct 18, 2022 at 5:45 am

          I’m not that sure there’s “smart money” out there. I’m confident that there’s lots of “dumb money” though. Check the performance of some of the big hedge funds – many are down 30% or so from the last three quarters. Were they smart but suddenly got dumb? “Strong hands vs. weak hands”, “invisible hands”, “the smart money”, “Goldilocks and the Three Bears”? We try to make sense of the randomness that surrounds us.

      • phleep says:

        Oct 17, 2022 at 4:38 pm

        Let’s start a new fragrance: Chapter 7.

        • Auld Kodjer says:

          Oct 17, 2022 at 6:24 pm

          More “dans les toilettes” than “eau de toilette”

25. Prairie Rider says:

    Oct 17, 2022 at 10:51 am

    Okay, I just got back home from a short ride. And yes, it’s quite cold outside. But did My Size really shrink 95%? Damn, that’s embarrassing.

    • NJGeezer says:

      Oct 17, 2022 at 11:48 am

      Howdy Prairie Rider,
      Now you have definitely confirmed for me your earlier username. Nice to see you’re still here commenting. Always appreciate your comments for the many years I’ve been following Wolf.
      –Geezer

      • Wolf Richter says:

        Oct 17, 2022 at 12:40 pm

        I just figured it out yesterday, LOL

        • rick m says:

          Oct 18, 2022 at 7:31 am

          The boron cantilever moving coil cartridge gave it away. Can’t afford those. Nagaoka Denon and audio Technica are better than my aged ears.

26. cb says:

    Oct 17, 2022 at 10:55 am

    Excellent article. Smart work. Thanks for sharing.

27. GrassRange says:

    Oct 17, 2022 at 11:23 am

    There is a bunch of Canada listed companies that trade on the OTC, which if added to you overall list, would expand the 1001 substantially. Many of those are micros but some are pretty substantial.

28. Martin G Kluftinger says:

    Oct 17, 2022 at 11:25 am

    Great list. Hopefully someone can learn from it.
    An old favourite of mine jumped out: Ballard Power, a darling of the late 90’s. Got a bloody nose shorting it a few times back then. By March of 2000, it was up to CDN$ 172, three years later around 20 and by 2012 below a dollar. Good company, good people and great products but the stock market is, as always, a casino. Having learned my lessons, I run fast at any sign of trouble, in either direction. Holding is for hanging on to your hat in a storm.

    • cb says:

      Oct 17, 2022 at 9:29 pm

      @ Martin G Kluftinger –

      Negative PE. No Dividend yield.

      What makes it a great stock?

29. The Longer View says:

    Oct 17, 2022 at 11:33 am

    Thank you for putting a smile on my face on a dreary Monday morning. My favorite is “Happy Development” (ticker HAPP). Down 97%. Yippee! I am SO happy! Question: Where is Trevor Milton’s darling Nikola? High was $93. Traded on Friday at $3. That is a lot more than 80%.

    • Wisdom Seeker says:

      Oct 17, 2022 at 1:31 pm

      Nikola is in there, Number 614.

30. Anthony A. says:

    Oct 17, 2022 at 11:34 am

    Probably need to forward this list over to Cathie Wood so she can start a new fund with all of these gems in it. Maybe she will call it the “Resurrection Fund”.

    • Mike G says:

      Oct 17, 2022 at 1:33 pm

      She should be familiar with the material already since most of ARKK’s holdings are on here.
      The ETF itself would almost make the list, down 77%

      • Harrold says:

        Oct 17, 2022 at 1:41 pm

        There is an an inverse ARKK ETF if you would like to bet against her and profit.

        • HowNow says:

          Oct 18, 2022 at 6:00 am

          Remarkable! Is there a “South Seas” ETF?

    • Yort says:

      Oct 17, 2022 at 3:48 pm

      Anthony – “Resurrection Fund”…LOL

      Wisdom Seeker should start a “Fk-Me” fund for all 1001 stocks in his list down a trillion percent…HA

      Note the group who started the “Short Cathie Wood” fund is starting a “Short Jim Cramer” fund.

      Maybe we should call it the “Manipulate my Audience for Personal Gains” Fund…

      Personally still waiting to invest in the “Doing God’s Work” Goldman Sachs ETF! Although I do own GS stock, so Hell is probably in my future along with Lloyd Blankfein…HA

31. Doubting Thomas says:

    Oct 17, 2022 at 11:40 am

    Snippet from front page of Wall Street Journal this morning:

    “SPAC sponsors made profits while investors in the businesses brought to market experienced significant losses as the blank-check-company boom fizzled in recent years.”

    Shocking! The horror! Who ever thought this could happen?!? (sarcasm)

32. Troy Lee says:

    Oct 17, 2022 at 12:23 pm

    Last but not least: Zynerba Pharmaceuticals

33. The Real Tony says:

    Oct 17, 2022 at 1:16 pm

    Those life science stocks have always been a curse if you’re long. I sold about 3 dozen cannabis stocks short within a few percentage point of the absolute peak. I told everyone to go all in short on the cannabis stocks on all the blogs and youtube.

    • Prairie Rider says:

      Oct 17, 2022 at 7:17 pm

      Tony,

      On 1 July 2022, Minnesota law changed to allow hemp-derived, but only hemp and not cannabis-derived THC edibles of 5 mg per serving and 50 mg per package to be legal. A first step to legalization of cannabis, perhaps?

      Yesterday, my local newspaper had an article on the struggles that hemp growers in Minnesota are experiencing. Hemp, you know, for oil from the seeds to make homeopathic tinctures, or to be mixed in brewpub ales, or for material from the stalks to be used to dampen noise in automobiles and for all sorts of other industrial uses.

      In 2021, revenue from industrial hemp in the USA was almost $825 million according to the report. Minnesota had almost 3,000 acres of it.

      But farmers who grow hemp in Minnesota must register with the state’s Department of Agriculture. They get tested by regulators every month. If the hemp has THC levels over 0.3% it has to be destroyed. MN Dept of Ag says that 10 to 12% of crops failed this year.

      “He grew a beautiful crop. But it tested hot. And now he’s going to lose his ass.” Tom Cotter stated about a farmer who’d rented some of his land to grow hemp.

      The U S Navy had “Grow Hemp for Victory” posters during WW II. Now,
      farmers in Minnesota ask, “Why grow a crop you can’t sell?”

      “Life, Liberty and the Pursuit of Happiness. Followed by, Don’t tread on me Motherf###er.” That’s my answer and my philosophy. Politicians in the Legislature don’t listen to me tho.

      C’est la vie.

34. Joe says:

    Oct 17, 2022 at 1:18 pm

    Never running out of suckers.

35. The Real Tony says:

    Oct 17, 2022 at 1:20 pm

    Windfall Geotek Inc ticker symbol WIN Down 99.93 percent all time. Some windfall but like the last part of windfall it did fall.

36. Cynical Engineer says:

    Oct 17, 2022 at 1:21 pm

    What really jumped out about this list was the massive number of life science/Biomedical stocks on there. And these are the ones that managed to go public before they imploded.

37. RockHard says:

    Oct 17, 2022 at 1:26 pm

    This is pretty great. Have you published the raw data/scripting anywhere (Github)?

    About a month ago Wolf was writhing something about SPACs and I started wondering how many SPACs had made money; the basic idea was if you bought and held a SPAC at IPO, how many have made money? Many returned the money or haven’t found a merger, many lost money, it seems like a few might have been an OK investment. I did find a data source but didn’t keep up the interest, maybe I should revive the project

    • Wolf Richter says:

      Oct 17, 2022 at 1:29 pm

      There is a SPAC index — the post-merger SPAC index (CNBC Post SPAC) which tracks the share prices of the SPACs after the merger with a SPAC was completed. It peaked in February 2021, of course, and has since then plunged by 79%.

38. billytrip says:

    Oct 17, 2022 at 1:57 pm

    Just perusing this list it seems that healthcare/pharma/biotech is the latest in vaporware investing.

    • Green Acres says:

      Oct 17, 2022 at 7:42 pm

      I agree with one aspect: there were a lot of health care stocks on that list.

      But health care as measured by the Health Care Select Sector SPDR (XLV) YTD has performed better than the S&P (SPX) YTD at -10.65% versus -22.83% respectively. WSJ used for the comparison.

      Neither of the YTD numbers are very good.

      • billytrip says:

        Oct 18, 2022 at 5:58 am

        I didn’t mean that there aren’t some great companies in that space, just that it seems that space now attracts more than its share of companies that have no real prospect of actually making money.

        Like conventional technology companies, being technical gives fraudsters a leg up on spinning yarns that most people cannot tell from fact.

39. Lili Von Schtupp says:

    Oct 17, 2022 at 3:21 pm

    I bought a single share of DMTK last year for s’n’g. It was hyped on a Fidelity investor article for some new test the company developed. Don’t think I made $5 before it started nosediving. I held on purely for amusement and I suppose validation of some sort, it was my canary in the coal mine as I learned more about investing here and elsewhere. Tapped out at 67% loss. But -96%… yowch.

40. islandteal says:

    Oct 17, 2022 at 3:43 pm

    ShiftPixy, Inc. (Nasdaq: PIXY) (“ShiftPixy” or “the Company”), a Florida-based national staffing enterprise which designs, manages, and sells access to a disruptive, revolutionary platform that facilitates employment in the rapidly growing Gig Economy. July 19, 2022, to effect a one-for-one hundred (1:100) reverse split of the Company’s issued and outstanding shares of Common Stock

    TOUGH TO BEAT THIS ONE !!🤣😂🤣

    • Wisdom Seeker says:

      Oct 17, 2022 at 6:16 pm

      That’s an impressive chart! Down 99.97% since the all-time high just after the 2017 IPO.

      The 1:100 reverse split gives them a chance to tack on another couple of decimals to that performance “record”!

      The new EPS will be -123 $/share instead of the current -1.23 $/share. I wonder what the record largest negative EPS has ever been?

41. Joan cohn says:

    Oct 17, 2022 at 3:43 pm

    Yes, there has been many stocks , especially small cap stocks , which have crashed .
    However , the NASDAQ is still above its close at the end of 2017,2018,2019 and June 2020.
    While the NASDAQ is trading considerably off of its highs , it has only corrected the extreme gambling mania of the 18 months from July 2020 thru late 2021. It has hardly crashed

42. Swamp Creatu says:

    Oct 17, 2022 at 4:07 pm

    You should add Jim Cramer’s charitable trust fund to the list. It’s probably off 50% or more based on the crap he has in his portfolio.

43. Marc Lilien says:

    Oct 17, 2022 at 4:33 pm

    There’s a company called Upstart (UPST)

    Went from 390 to 20

    • Wolf Richter says:

      Oct 17, 2022 at 5:28 pm

      Article on Upstart from last May, including chart. My Imploded Stocks are full of these. Back then UPST was still at $42 a share, LOL

      https://wolfstreet.com/2022/05/09/the-massacre-doesnt-let-up-another-ipo-stock-upstart-plunges-43-percent-afterhours-90-percent-from-high/

      

      • Marc Lilien says:

        Oct 17, 2022 at 5:43 pm

        So it’s down another 50% since then! Wonder why it’s not on the chart?

        It was a Motley Fool pick — they never advise selling

        • Wisdom Seeker says:

          Oct 17, 2022 at 6:18 pm

          Companies which IPO’d after the COVID bottom in March 2020 aren’t included in the current version of this particular screen.

          I’m tempted to include them on the next round, though.

    • Eh says:

      Oct 18, 2022 at 1:26 am

      Vry interesting pov

44. phleep says:

    Oct 17, 2022 at 4:43 pm

    The “dent in the world” most of these disruptors will leave is the crater of their incinerated capital. Creative desecration.

45. phleep says:

    Oct 17, 2022 at 4:44 pm

    At the corner of chutzpah and hubris. Time for a clean sweep.

46. R2D2 says:

    Oct 17, 2022 at 5:39 pm

    Would be fun to see this “1001 Index” updated on an annual basis for the next (say) 5 years, from Oct 2022 to Oct 2027.

    See how well these imploded stocks perform (or not) as a collective whole in the future.

    Be greedy when others are fearful?

    • Augustus Frost says:

      Oct 17, 2022 at 7:58 pm

      Today isn’t the equivalent of 1942 when John Templeton purportedly bought every stock priced below $1.

      This is still the greatest mania in human history. Anyone buying into this temporarily oversold market better make sure they have a chair when the music stops if trying to catch the falling knife.

      • HowNow says:

        Oct 18, 2022 at 6:28 am

        I wonder if you’re seated in one of the chairs, when the music stops, and you’ve caught the falling knife, will a bell ring?

47. Moosy says:

    Oct 17, 2022 at 6:11 pm

    Can you add market cap high low to the table?

    • Wisdom Seeker says:

      Oct 17, 2022 at 6:25 pm

      That’s not so easy. Looking up the historical market cap requires a different dataset than what I’m using right now. But the NASDAQ list of stocks (linked in the article) does provide the current market cap.

48. Petunia says:

    Oct 17, 2022 at 7:46 pm

    I just tried to buy some shampoo at ULTA and their website is awful. Went to Amazon instead. I’ll bet ULTA will be on the list soon.

    • HowNow says:

      Oct 18, 2022 at 6:37 am

      Whoa… Ulta may be overpriced and may suffer a serious comeuppance, but it’s had excellent performance for at least 10 years running – just a dip in 2020. If it ends up on Wisdom’s list, you may want to buy a seat on the next flight to Mars when it does make that list.

49. Ben says:

    Oct 17, 2022 at 8:55 pm

    So much comedy in the details of these companies with BIOL as example. From 1992 through present, BIOL lost money (neg EPS) in all years except 2002 and 2003, and only had positive Free Cash Flow in one out of these 30 years (2003). BIOL had an all time high of near 2500(!) back in 2004. Now selling for about $2 which is a 99.9% loss!

50. SomethingStinks says:

    Oct 17, 2022 at 9:36 pm

    All right who got caught in this…. I must admit I jumped into SOLO after seeing one of their vehicles parked at a mall here in the Poenix area. It was gambling money and the loss is still on paper but there you go.

    • SomethingStinks says:

      Oct 17, 2022 at 9:38 pm

      That’s Phoenix area…

51. notdeadyet says:

    Oct 17, 2022 at 10:14 pm

    In my youth, I once asked a retired Army Colonel I knew, “How did you survive being assigned to the Pentagon for 20 years?”. The Colonel smiled and replied, “One simple rule… When the elephants dance, stay off of the ballroom floor”.
    In the years that have since passed, I have found that “simple rule” can be applied to other situations… the current stock market is one of those situations. I’ll be sitting this one out while the elephants dance.

52. Ernest says:

    Oct 17, 2022 at 10:44 pm

    Out of all of these, the only one I see that actually is turning a decent profit and has a good balance sheet is, oddly enough, Overstock.

53. BS ini says:

    Oct 17, 2022 at 10:58 pm

    How in the world does the SEC and brokerage houses get away with no oversight on selling either stocks or bonds! Buyers beware !

54. roddy6667 says:

    Oct 18, 2022 at 1:36 am

    This is like the DotCom Bomb website “Fu**edcompany.com” redux. I guess I just have a weird sense of humor, but this stuff makes me laugh more than humor websites.

55. Aaron says:

    Oct 18, 2022 at 1:47 am

    I skimmed the list and quickly noticed a trend. I think I can create the name of the most implodable stock possible. Ready? Ok, here goes:
    Bioscience Green Tech Therapeutic Pharmaceuticals.

    I think if you squeeze the terms Blockchain and Coin in there somewhere you can get it to a negative price by now. Lol.

56. Zero Sum Game says:

    Oct 18, 2022 at 10:19 am

    Just wanted to note that any stock down 96% really means it went down the 80% imploded rabbit hole TWICE even though 96% doesn’t seem much worse than 80%.

    Little voices in my head remind me of old college math classes teaching smoother exponential curving in this area instead of two simple 80% drawdowns, but I forget the exact concept name.

57. Juicifer says:

    Oct 18, 2022 at 7:21 pm

    I’m late to the party, but just want to thank Wisdom Seeker and Wolf for taking the time to publish this data. Far from being a waste of time, IMHO it helps me to talk down a whole lot of the Bullshi…er, lets just say Bullish, bravado out there being constantly pushed into my face in the media.

    “Not counting delisted stocks, mergers or name-changes, nearly 1 in 6 US surviving stocks from May is now “on sale” at 80% off its high.”

    How many times have you recently heard anything at all approaching this factual statement from the Legacy shills and bloggers? “1 in 6 stocks in the entire US system down 80% from their highs”…I certainly haven’t!

    For this and more, I keep returning to Wolf Street. Thanks.

58. John Stotes says:

    Oct 18, 2022 at 10:02 pm

    “But for now, I just want to note that these 1001 companies collectively account for a decent share of the US economy and employment.”

    That seems like a huge embellishment, I would guess this list of vaporware firms is well less than 1% of GDP and employment.

59. Yort says:

    Oct 19, 2022 at 4:08 pm

    Generac HLDGS INC (Power Systems MFG) fell 25% today and is right at 80% loss from peak.

    Note GNRC had $7.74 EPS last quarter, so decent company, yet crashed from $524.31 to $109.05 is less than one year…

    • jimbo says:

      Oct 19, 2022 at 5:18 pm

      Looks like a real company with real products, but why in the world would anybody pay over US$500 for a company that traded around $US13 a share in 2010?

      Also the EPS is not US$7.74 last quarter. That is the TTM EPS for the year.

      Book value per share is US$37.89 so it is still selling for around 3 times book and 1.5 price to sales ratio.

      it doesn’t pay a dividend either.

    • Wolf Richter says:

      Oct 19, 2022 at 6:07 pm

      Have a look at the long-term chart. The stock spiked-and-collapsed. After the 80%+ plunge, it’s back where it had been in Feb 2020. Maybe that’s where it belongs, or lower, given the warning it issued.

      • Jimbo says:

        Oct 20, 2022 at 5:57 pm

        Forget US companies, buy Japanese companies.

        Better quality, better balance sheets, real products, and on sale with the yen falling.

        Just pick a decent buy point and if afraid of further yen weakness hedge.

        Japanese companies will be a better buy over then next ten years than US companies.

60. Horace Weedseed says:

    Oct 20, 2022 at 9:32 pm

    Fun to read.
    I’m sure there are some rebound candidates here, just a question of when.