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After a brutal first half of the year, investors were expecting relief in the third quarter, especially after some recovery in July. However, by the end of the quarter, it was clear that the third quarter was no different than the first two quarters.
Almost all sectors were in the red, except for solar stocks. Some retailers also performed well owing to healthier consumer spending, while communications services were the worst-performing sector. Amid such a backdrop, let’s take a look at the five best and worst performing large-cap stocks in Q3 2022.
We have used the quarterly return data (from finviz.com) to come up with the five best and worst performing large-cap stocks in Q3 2022.
Founded in 2006 and headquartered in Fremont, Calif., this company designs, develops and sells micro inverter systems for the solar photovoltaic industry. Enphase Energy Inc (NASDAQ:ENPH) shares are up by almost 58% year to date but are down by almost 9% in the last month.
As of this writing, Enphase Energy shares are trading at above $284 (52-week range of $113.40 to $324.84), giving the company a market capitalization of more than $38 billion.
Founded in 2009 and headquartered in Ventura, Calif., this company operates a technology platform for advertising buyers. Trade Desk Inc (NASDAQ: TTD) shares are down by almost 31% year to date but are up by over 2% in the last one month.
As of this writing, Trade Desk shares are trading at above $62 (52-week range of $39.00 to $114.09), giving the company a market capitalization of more than $29 billion.
Founded in 1816 and headquartered in Baltimore, Md., this company generates and supplies clean energy electricity, as well as renewable energy products and solutions. Constellation Energy Corp (NASDAQ:CEG) shares are up by almost 8% in the last month.
As of this writing, Constellation Energy shares are trading at above $89 (52-week range of $38.00 to $90.18), giving the company a market capitalization of more than $28 billion.
Founded in 1987 and headquartered in Durham, N.C., this company offers silicon carbide materials, power-switching devices and RF devices. Wolfspeed Inc (NYSE:WOLF) shares are up by almost 3% year to date and up over 2% in the last month.
As of this writing, Wolfspeed shares are trading at above $115 (52-week range of $58.07 to $142.33), giving the company a market capitalization of more than $13 billion.
Founded in 1999 and headquartered in Tempe, Ariz., this company designs, makes and markets photovoltaic solar power systems and solar modules. First Solar, Inc. (NASDAQ: FSLR) shares are up by over 64% year to date and up over 6% in the last month.
As of this writing, First Solar shares are trading at above $141 (52-week range of $59.60 to $145.74), giving the company a market capitalization of more than $14 billion.
Founded in 2011 and headquartered in San Jose, Calif., it is a video platform that facilitates communications, including for meetings, chat, phone, webinars, and online events. Zoom Video Communications Inc (NASDAQ: ZM) shares are down by almost 59% year to date and down over 4% in the last month.
As of this writing, Zoom Video Communications shares are trading at above $75 (52-week range of $71.69 to $291.31), giving the company a market capitalization of more than $22 billion.
Founded in 1991 and headquartered in Englewood, Colo., this company offers cable, broadband and mobile location technology solutions. Liberty Broadband Corp (NASDAQ: LBRDA) shares are down by almost 50% year to date and down over 17% in the last month.
As of this writing, Liberty Broadband shares are trading at above $80 (52-week range of $74.52 to $177.20), giving the company a market capitalization of more than $11 billion.
Founded in 1933 and headquartered in Stamford, Conn., this company offers broadband communications services, including Spectrum TV, Spectrum Internet, and Spectrum Voice. Charter Communications Inc (NASDAQ:CHTR) shares are down by almost 50% year to date and down over 18% in the last month.
As of this writing, Charter Communications shares are trading at above $327 (52-week range of $302.94 to $753.69), giving the company a market capitalization of more than $51 billion.
Founded in 1904 and headquartered in Radnor, Pa., this company offers mission critical products and services to healthcare, advanced technologies, applied materials, biopharma, and education industries. Avantor Inc (NYSE:AVTR) shares are down by almost 50% year to date and down over 17% in the last month.
As of this writing, Avantor shares are trading at above $20 (52-week range of $19.54 to $42.48), giving the company a market capitalization of more than $13 billion.
Founded in 1991 and headquartered in Englewood, Colo., it is a holding company that deals in cable, broadband and mobile location technology businesses. Liberty Broadband Corp (NASDAQ:LBRDA) shares are down by almost 51% year to date and down almost 19% in the last month.
As of this writing, Liberty Broadband shares are trading at above $79 (52-week range of $73.63 to $179.27), giving the company a market capitalization of more than $11 billion.
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EUR/USD has gathered recovery momentum and advanced toward 0.9800 after having declined sharply in the early American session with the initial reaction to the US jobs report. In September, Nonfarm Payrolls rose by 263,000, surpassing the market expectation of 250,000.
Although GBP/USD managed to erase a small portion of its daily losses, it continues to trade in negative territory near 1.1100. The renewed dollar strength on upbeat labour market data from the US weighs on the pair, which remains on track to end the week little changed.
Gold came under selling pressure and fell to a fresh daily low of $1,690.55 on Friday before recovering modestly. Following the upbeat labor market figures from the US, the benchmark 10-year US Treasury bond yield is up more than 1% on the day, weighing on XAU/USD.
Bitcoin has been in a steady consolidation for more than two weeks and shows no signs of directional bias. The NFP could trigger a volatile episode that could resolve its range tightening and establish a directional bias.
The will-he-won't-he saga appears to be nearing a conclusion, but it is not over the finish line yet. Market participants and investors look to be doubting the deal if the latest share price movements are anything to go by.
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