Jun. 28 at 5:41 PM
Out of ~70 mega-cap stocks (
$200B+), leadership and laggards are starting to diverge in a big way.
Worst performers over the last 12 months:
$NFLX -43.5%
$ORCL -30.2%
$MSFT -25%
$META -24.2%
$PLTR -21.7%
These aren’t small caps or speculative names-these are core index drivers seeing meaningful drawdowns despite overall market strength elsewhere.
At some point, either these reset valuations get defended… or rotation forces a completely different leadership structure in mega caps.
This is where index direction quietly gets decided.
