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Tesla crashed and bounced harder than any other tech stock this week

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Inside money, markets, and big tech

Tesla, Adobe, Align and NVIDIA are the ‘bounciest’ tech stocks

It’s been a wild week for stocks. At the close of trade on Tuesday, the tech-heavy Nasdaq had fallen 10% from its record highs set just a week earlier, a collapse noted by the Wall Street Journal as the index’s quickest 10% drop in history.

Electric car incumbent Tesla and iPhone peddler Apple found their share prices hardest hit. At their lowest points on September 8, their stocks respectively traded 31% and 20.5% below their highs on September 2.

Chipset makers NVIDIA, KLA, and AMD followed closely — they’d dropped 20%, 18%, and 17% respectively.

[Read: Tesla dumped $5B worth of its stock in just 4 days — and traders hate it]

While the market has bounced back somewhat, no NASDAQ 100 stock has bounced harder than Tesla, now up 19.40% since its September 8 low of $329.88.

Orthodontic play Align Technology, chipset prince NVIDIA, and digital lord Adobe are the next-bounciest, returning 11%, 10.5%, and 7.6% since their Tuesday lows.

(NB: If the visualization doesn’t show, try reloading this page in your browser’s “Desktop Mode”).

For scale, Amazon, Apple, and Microsoft have ricocheted just 6.49%, 5.8%, and 5% respectively, and the NASDAQ 100 overall is up 4.6% over the same time frame.

As for who is yet to recover, just four NASDAQ 100 companies are still down since Tuesday’s low: Lululemon (-5.09%), Walgreen Boots (-2.80%), Mylan (-0.97%), and Lam Research (-0.15%).

None of this is investment advice. Don’t pretend it is, because it’s not. Always do your own research, but do join our online event, TNW2020, to hear how successful companies are adapting to a new way of working.

Published September 10, 2020 — 15:40 UTC

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