This article comes fromeconomictimes，Odaily | Moni

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The Nasdaq is down nearly 25% since the start of the year, a drop that is almost as steep as the dot-com bubble burst in 2000. Many market leaders in the technology sector have been hit hard during this round of market decline. Let us take stock of the five biggest losers in technology stocks in 2022 so far.

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Fifth place: Meta, down 43.4% in 2022

On April 28th, the stock price rebounded after Meta released its earnings report, but if you analyze it carefully, you will find that Meta's financial report data shows that they experienced the slowest revenue growth in many years in the first quarter. Although the profit exceeded expectations, it was down from the same period last year. 21%, and it did not meet analysts' expectations for Facebook's daily and monthly active users. While investors found something to celebrate following the apparently mixed news and sent Meta shares surging 18% in after-hours trading, they were still down 43.4% from their highs for the year -- for Jan. 1 For a company with a daily market capitalization of about $935 billion, that figure is shocking.

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No. 4: Sea Ltd, down 64.38% in 2022

On March 1, Sea Ltd's share price plummeted again by 13%, at one point causing the company's chairman, Forrest Li, to lose $1.1 billion in net worth. While Sea's shares rose 14% on May 18 after its first-quarter revenue beat analysts' expectations, they are still down more than 64% from their highs for the year.

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Third place: Netflix, down 67.96% in 2022

As Netflix disclosed in its first-quarter financial report that the number of subscribers fell sharply, its stock price fell 39% on April 20, falling to $212.51 at one point. This year, it has fallen by 67%. worst performing stock on the index.

In May, Netflix announced that it was laying off 150 workers -- about 2 percent of its North American workforce -- mainly at its California office because of declining revenue.

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No. 2: Snap, down 68.21% in 2022

On the evening of May 23, Snap CEO Evan Spiegel warned that "the macroeconomic environment is deteriorating much faster than expected." Snap also said it expects consolidated revenue and earnings to fall below the "low end" of its guidance range for the second quarter of 2022, which ends in June.

In addition, Snap has not kept up with the pace of technological development. According to The Verge, Evan Spiegel emphasized in the latest interview that Snapchat will not use the word "metaverse" because it is "hypothetical" and people "actually like the real world." . Evan Spiegel emphasizes: "The reason we don't use the term is that it's rather ambiguous and hypothetical. Just ask a room of people how to define it, and everyone's definition will be completely different. Our basic bet is that people actually like The real world: They want to be with their friends."

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No. 1: Coinbase, down 71.72% in 2022

The plunge in the encrypted asset market has triggered a sharp drop in the market value of Coinbase, the largest cryptocurrency exchange in the United States, in 2022.

On the evening of May 10, Coinbase released its first-quarter report. The data showed that the company suffered a huge loss in performance, with revenue down 27% from a year ago, far below Wall Street's forecast. On May 11, Coinbase's stock price plummeted and hit an all-time low.

During the week of May 4, Coinbase shares more than halved — from $130.15 to $53.72 on May 11.Coinbase stock has fallen nearly 72% in 2022 and is down 81.1% from its November 2021 all-time high of $368.90.