The stock market saw a very rough start to kick off 2022. Some stocks that saw rises throughout the past two years suffered from the opposite effect in January. Vaccine maker Moderna, one of last year’s top-performing stocks, started the year down nearly 40%. This drop is believed to be caused by research suggesting that the firm’s booster shot is less effective against the Omicron variant.
Another company that experienced a big drop is Netflix. They had poor fourth-quarter earnings and saw their shares drop 37% in January. With higher prices announced for every streaming package on Netflix, it seems unlikely that their stock is in for an immediate bounceback. Other stocks that had a major negative trend in January are Etsy, Advanced Micro Devices, Nvidia, Caesars Entertainment and Domino’s Pizza. Stocks have swung wildly since the year began, and only time will tell if things return to a level of normalcy for many companies that had stock increases throughout the pandemic.
