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The Worst And The Best Tech Stocks For 2020 (So Far)

Of the 40 technology companies on our watch list, only 16 recorded gains in the price of their publicly traded shares in the first six months of 2020 while 24 recorded price declines. One company’s shares lost more than half their value. Take a look at who were the winners and who were the losers.

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Tech Stocks Hit By COVID-19 Pandemic, Recession

Stock markets were riding high for the first couple of months of 2020 before plunging in March as the COVID-19 pandemic hit and many segments of the U.S. economy shut down. (The U.S. economy went into recession in February, according to the National Bureau of Economic Research.) While stock markets recovered somewhat in the second quarter, it has been a very bumpy ride.

The Dow Jones ended trading on June 30 at 25,812.88, down 9.55 percent from the 28,538.44 close on Dec. 31, 2019. The tech-heavy Nasdaq has fared much better, closing at 10,058.77 on June 30, up 12.11 percent from its 8,972.60 close on Dec. 31, 2019.

Of the 40 technology companies on our watch list, only 16 recorded stock price increases in the first half of 2020—nine of them by double-digit amounts and one by nearly 50 percent. Twenty-four companies saw the value of their stock decline during the first six months of 2020, many by significant double-digit amounts.

Here's a look at who was up and who was down in the first half of 2020, starting with companies with the biggest gains in share price, based on stock closing prices on Dec. 31, 2019, and June 30, 2020.

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