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The Biggest Tech Stocks Winners And Losers In 2022
Rick Whiting
Here is a look at the technology company stocks that recorded the biggest price gains and declines in 2022. Take a look to see how the shares of leading IT companies like IBM, VMware, Rackspace and Zoom performed during the year.
Losers No. 10: Quantum
CEO: Jamie Lerner
Jan. 3, 2022, Opening: $5.55
Dec. 30, 2022, Close: $1.09
Change: -80.36%
Quantum, a developer of data storage and management devices and systems, as well as video surveillance systems, recorded the biggest stock price decline in 2022 among all the tech companies on the CRN watch list. The company’s shares lost more than four-fifths of their value in 2022 and finished out the year just above $1.
For the first six months (ended Sept. 30) of its fiscal 2023 Quantum reported revenue of $196.2 million, up nearly 8 percent from $182.3 million in the first half of fiscal 2022. But the company reported a net loss of $24.7 million for the six-month period compared to a $13.6 million net loss one year before.
Supply chain disruptions hindered revenue growth, especially earlier in the year. In June Quantum launched a series of cost-reduction programs designed to reduce expenses by $1.5 million to $2.0 million per quarter.
The company will report its fiscal 2023 third quarter results on Feb. 2.
