The NASDAQ 100's worst performers in 2026 so far tell a story about where money is rotating away from.
$APP down 53%. $INTU off 48%. $ALNY -43%. These aren't small moves—they're bloodbaths.
What's interesting: these aren't all the same type of stock. You've got high-flying ad tech ($APP), tax software ($INTU), biotech ($ALNY), consumer staples ($MNST), and even $TSLA down 24%.
Some of these names ran hard in prior years and are giving it all back. Others are facing real business headwinds or valuation resets. $PDD and $ADBE both down 25% suggests growth tech is out of favor broadly.
When you see this kind of dispersion in a major index, it usually means the market is picking winners and losers more carefully. Broad rallies are over. Now it's about fundamentals, earnings delivery, and who can actually grow in a tougher environment.
If you're holding any of these, ask yourself: is this a dip worth buying, or is the thesis broken? Big difference between a pullback and a structural problem.
$APP down 53%. $INTU off 48%. $ALNY -43%. These aren't small moves—they're bloodbaths.
What's interesting: these aren't all the same type of stock. You've got high-flying ad tech ($APP), tax software ($INTU), biotech ($ALNY), consumer staples ($MNST), and even $TSLA down 24%.
Some of these names ran hard in prior years and are giving it all back. Others are facing real business headwinds or valuation resets. $PDD and $ADBE both down 25% suggests growth tech is out of favor broadly.
When you see this kind of dispersion in a major index, it usually means the market is picking winners and losers more carefully. Broad rallies are over. Now it's about fundamentals, earnings delivery, and who can actually grow in a tougher environment.
If you're holding any of these, ask yourself: is this a dip worth buying, or is the thesis broken? Big difference between a pullback and a structural problem.