2026-07-06
The Stocks Still 50%+ Below Their All-Time Highs in 2026
By FinScope Research · Data as of 2026-07-02
The indexes keep printing records, which makes it easy to assume everything is near its high. It isn’t. Underneath a market at all-time highs sits a long list of stocks that are still deep in their own private bear market, down half or more from a peak many of them set in 2021, and showing no sign of getting back.
We measured the current distance from the all-time high for every name in our universe. Of 814 stocks and ETFs, 179 are trading 50% or more below their peak. Strip out the leveraged, inverse, and volatility products (which are built to decay toward zero and don’t belong in a “stocks below highs” list), and you’re left with 127 genuine operating companies still cut in half or worse.
The deepest declines among real companies
Current decline is measured from each stock’s all-time-high close to its latest close. “Years since peak” is how long ago that high was set.
| Ticker | Company | Below high | Max drawdown | Years since peak |
|---|---|---|---|---|
| LCID | Lucid Group | −99.0% | −99.2% | 5.4 |
| PTON | Peloton | −96.6% | −98.3% | 5.5 |
| AI | C3.ai | −94.9% | −95.6% | 5.5 |
| SNAP | Snap | −94.2% | −95.3% | 4.8 |
| NIO | NIO | −92.4% | −95.0% | 5.4 |
| UPST | Upstart | −91.1% | −96.9% | 4.7 |
| RIVN | Rivian | −89.2% | −95.1% | 4.6 |
| DOCU | DocuSign | −85.2% | −87.6% | 4.8 |
| PYPL | PayPal | −85.1% | −87.3% | 4.9 |
| ZM | Zoom | −84.7% | −90.3% | 5.7 |
| MRNA | Moderna | −83.5% | −95.4% | 4.9 |
One year dominates that column. Look at “years since peak”: almost every name topped out roughly four to six years ago, which puts the high in 2021. This is the great pandemic-growth cohort: the stay-at-home winners, the profitless-growth darlings, the 2021 IPOs and SPACs. Zoom, Peloton, DocuSign, PayPal, Snap, the EV makers (Rivian, Lucid, NIO). The market repriced all of them when rates rose in 2022, and years later most have never come close to reclaiming those highs.
A handful are older wounds. Plug Power is still 99.8% below a high it set more than 26 years ago, during the 2000 clean-energy bubble. Some peaks are never revisited within an investing lifetime.
Familiar names, not just penny stocks
The list is not confined to speculative small caps. Several large, profitable, household-name companies are on it too.
| Ticker | Company | Below high | Years since peak |
|---|---|---|---|
| NKE | Nike | −73.3% | 4.7 |
| EL | Estée Lauder | −75.8% | 4.5 |
| ADBE | Adobe | −68.1% | 4.6 |
| BABA | Alibaba | −67.8% | 5.7 |
| WBD | Warner Bros. Discovery | −65.7% | 5.3 |
| DKNG | DraftKings | −64.0% | 5.3 |
| ORCL | Oracle | −56.9% | 0.8 |
| CRM | Salesforce | −54.3% | 1.6 |
Nike down 73% from its high. Adobe down 68%. These are blue chips, not meme stocks, and their drawdowns show that a great business and a great stock price are different things. Note the two exceptions at the bottom: Oracle and Salesforce set their highs recently (under two years ago) and gave back more than half in a fast, fresh decline rather than a slow multi-year grind.
The structural cases we excluded
Fifty-two of the 179 names below −50% are leveraged, inverse, or volatility products, and they deserve a separate word because their −100% readings are not comparable to a company falling in half. Inverse and short-VIX funds like SQQQ and UVXY are designed to erode over time; a mostly-rising market grinds them toward zero by construction, not because of any single crash. Holding them long is the mistake, and their drawdowns simply confirm it. We break down why in the leveraged ETF guide.
How to read a stock that’s 50% down
A deep, years-long drawdown is information, not automatically an opportunity or a warning:
- Most of these peaked in 2021 on pandemic-era demand or zero-rate valuations that have not returned. “Down 85% from the high” often means the high was the anomaly.
- A recovery, if it comes, can take a very long time. Our recovery-time analysis found single stocks needed a median of 3.7 years to reclaim a high, with a tail past twenty.
- Depth alone says nothing about quality. Nike and Lucid are both on this list for very different reasons.
Screen the full set yourself, filtering by current decline, max drawdown, or recovery time, in the drawdown screener and rankings. Every company above has a live page with its complete drawdown and recovery history.
FAQ
How many stocks are still 50% below their all-time high? In this universe of 814 US stocks and ETFs, 179 are at least 50% below their peak as of July 2026. Excluding leveraged, inverse, and volatility ETFs, 127 are genuine operating companies.
Why are so many of them down from a 2021 high? Most of the deepest names are pandemic-era growth stocks. They peaked in 2021 on stay-at-home demand and zero interest rates, then repriced sharply when rates rose in 2022, and have not recovered.
Are any large, well-known companies on the list? Yes. Nike (−73%), Estée Lauder (−76%), Adobe (−68%), Alibaba (−68%), and Salesforce (−54%) are all trading well below their all-time highs.
Methodology: current decline is measured from each security’s all-time-high close to its latest close on adjusted daily prices; asset type is classified from the security name to separate operating companies from leveraged and inverse products. See the methodology page.