A year after hitting a record, here are the biggest Nasdaq-100 winners and losers

Published Sun, Nov 20 20228:09 AM EST

It's amazing how one year can change everything. On Nov. 19, 2021, the Nasdaq-100 index — which is made up of the 100-largest Nasdaq Composite stocks — hit a record closing high of 16,573.34. Those gains came as the Federal Reserve kept rates low, boosting the prices investors were willing to pay for the tech sector. The year that's followed since that milestone hasn't been nearly as kind to the Nasdaq-100. The index has dropped roughly 30% in that time, tumbling deep into a bear market. Those losses have been driven by a combination of factors, including investors dumping Covid-19 winners as the world continued to reopen from the pandemic, and companies with high valuations or no-to-low low earnings falling out of favor in a rising-rate environment. DocuSign and Zoom Video have fallen more than 80% and 67%, respectively, since the Nasdaq-100 reached its record high. Both stocks soared at the onset of the Covid-19 pandemic in 2020, as working remotely from home took hold. But, investors dumped the stocks as countries reopened and workers returned to the office. Team collaboration software name Atlassian is another beaten-down pandemic darling that has lost about 71% over the past year. Megacap stocks such as Meta Platforms , Tesla and Amazon have also plunged over the past 12 months, in part due to their high valuations. Investors have largely shunned such expensive stocks as the Federal Reserve tightened monetary policy to curb inflationary pressures not seen in decades. Meta, the Facebook and Instagram parent, has lost more than 67% since the record was reached, while Tesla and Amazon have fallen around 50% each. To be sure, there are a few Nasdaq-100 names that have thrived despite the index's tumble, including Vertex Pharmaceuticals or Amgen . Vertex Pharmaceuticals has rallied 69.5% since the Nasdaq-100 closed at a record. Earlier this month, the company reported better-than-expected quarterly results and hiked its full-year outlook. "As we progress exa-cel towards global regulatory submission, initiate pivotal development of the acute pain program and continue the rapid advancement of multiple mid- and late-stage clinical programs, we are executing on our goal of serial innovation for patients, which will drive significant growth for the company for years to come," CEO Reshma Kewalramani said in a statement. Exa-cel is a treatment for sickle cell disease. Meanwhile, Amgen has surged 39.4% in that time, with Goldman Sachs analyst Salveen Richter noting earlier this month that the company's obesity drug provides a "blockbuster opportunity" for investors. O'Reilly Automotive, T-Mobile and Gilead Sciences are also among the big Nasdaq-100 winners over the year since the Nasdaq closed at an all-time high. Shares of O'Reilly and T-Mobile are up roughly 30% each in that time, while Gilead has gained 21.7%. — CNBC's Michael Bloom contributed reporting.