#Deep Dive: These 13 Nasdaq-100 stocks had the biggest swings up and down after the Fed raised rates. Should you be scared off?
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“Deep Dive: These 13 Nasdaq-100 stocks had the biggest swings up and down after the Fed raised rates. Should you be scared off?”
Airbnb, eBay and Moderna were among the stocks with the biggest price swings during two wild trading sessions
One day after the Nasdaq Composite Index rose more than 3%, in what appeared to be a positive reaction by investors to the Federal Reserve’s latest moves to fight inflation, U.S. stocks reversed on May 5 with brutal volatility.
Market Extra: As Dow sinks over 1,000 points, signs of panic selling emerge in the stock market
COMP,
sank 5% on Thursday, more than reversing its gains over the previous three trading sessions. The tech-weighted index has now fallen 21.3% for 2022 (excluding dividends).
Diving into the index’s large-cap non-financial subset (tracked by the Invesco QQQ Trust
QQQ,
), here are the 13 stocks among the Nasdaq-100
NDX,
that had the biggest two-day swings — 12% or more:
| Company | Ticker | Two-day high/low price swing | Price change – May 5 | Price change – 2022 | Decline from 52-week high | Date of 52-week intraday high |
| Match Group Inc. |
MTCH, |
23.3% | -8.3% | -41.9% | -57.8% | 10/21/2021 |
| Datadog Inc. Class A |
DDOG, |
18.8% | -6.0% | -37.2% | -44.0% | 11/17/2021 |
| Cognizant Technology Solutions Corp. Class A |
CTSH, |
16.4% | -12.8% | -17.0% | -21.3% | 03/22/2022 |
| Booking Holdings Inc. |
BKNG, |
15.6% | 3.3% | -9.5% | -20.0% | 02/16/2022 |
| eBay Inc. |
EBAY, |
15.2% | -11.7% | -27.8% | -40.8% | 10/22/2021 |
| Fortinet Inc. |
FTNT, |
14.4% | -1.0% | -20.8% | -23.5% | 12/29/2021 |
| Pinduoduo Inc. ADR Class A |
PDD, |
14.3% | -11.2% | -30.9% | -71.9% | 06/01/2021 |
| MercadoLibre Inc. |
MELI, |
14.3% | -10.7% | -32.3% | -53.6% | 09/02/2021 |
| CrowdStrike Holdings Inc. Class A |
CRWD, |
13.3% | -9.7% | -11.6% | -39.4% | 11/10/2021 |
| Zscaler Inc. |
ZS, |
12.7% | -8.9% | -40.7% | -49.4% | 11/19/2021 |
| Airbnb Inc. Class A |
ABNB, |
12.7% | -8.4% | -14.1% | -32.7% | 11/17/2021 |
| Moderna Inc. |
MRNA, |
12.1% | -8.4% | -44.1% | -71.5% | 08/10/2021 |
| DocuSign Inc. |
DOCU, |
12.0% | -8.6% | -46.9% | -74.3% | 08/10/2021 |
| Source: FactSet | ||||||
Click on the tickers for more about each company.
Read Tomi Kilgore’s detailed guide to the wealth of information for free on the MarketWatch quote page.
Jump in or head for the hills?
Buying “on the dips” hasn’t been a very good trading strategy this year:
But there are always investors looking to ride a recovery. If you are one of those, analysts polled by FactSet believe that eight of the volatile stocks listed above are worth a second look.
Leaving the list in the same order, here’s a summary of analysts’ opinions and consensus price targets:
| Company | Ticker | Share “buy” ratings | Consensus price target | Closing price – May 5 | Implied 12-month upside potential |
| Match Group Inc. |
MTCH, |
86% | $122.38 | $76.88 | 59% |
| Datadog Inc. Class A |
DDOG, |
79% | $179.76 | $111.87 | 61% |
| Cognizant Technology Solutions Corp. Class A |
CTSH, |
48% | $93.14 | $73.60 | 27% |
| Booking Holdings Inc. |
BKNG, |
68% | $2,781.75 | $2,171.91 | 28% |
| eBay Inc. |
EBAY, |
41% | $59.60 | $48.04 | 24% |
| Fortinet Inc. |
FTNT, |
59% | $365.24 | $284.52 | 28% |
| Pinduoduo Inc. ADR Class A |
PDD, |
80% | $65.51 | $40.28 | 63% |
| MercadoLibre Inc. |
MELI, |
91% | $1,588.64 | $913.22 | 74% |
| CrowdStrike Holdings Inc. Class A |
CRWD, |
93% | $272.75 | $180.98 | 51% |
| Zscaler Inc. |
ZS, |
79% | $324.60 | $190.41 | 70% |
| Airbnb Inc. Class A |
ABNB, |
43% | $192.50 | $143.09 | 35% |
| Moderna Inc. |
MRNA, |
48% | $234.47 | $142.02 | 65% |
| DocuSign Inc. |
DOCU, |
48% | $104.06 | $80.93 | 29% |
| Source: FactSet | |||||
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By
Philip van Doorn
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