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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. 1: Zoom Video Communications
CEO: Eric Yuan
Jan. 3, 2022, Opening: 184.44
Dec. 30, 2022, Close: 67.74
Change: -63.27 %
After peaking above $478 per share in November 2020 when demand for Zoom Communications’ video conferencing services exploded during the COVID-19 pandemic, the company’s share price has been on a fairly steady retreat with the company’s stock losing more than 63 percent of its value between the start and finish of 2022.
For the first three quarters (ended Oct. 31) of its fiscal 2023 Zoom reported revenue of $3.28 billion, up more than 8 percent from $3.03 billion in the first three quarters of fiscal 2022. But net income for the three-quarter period was $207.7 million, down from $884.6 million one year before due to increased spending on sales and marketing and for research and development.
