The 25 Deepest Drawdowns We Track
One row per asset: each asset's single deepest peak-to-trough decline in its tracked record, derived from daily closing prices. Crypto rows are shaded.
| Rank | Asset | Type | Max drawdown | Peak date | Trough date | Duration | Recovered | Data since |
|---|---|---|---|---|---|---|---|---|
| 1 | Versus Systems Inc. (VS) | Stock | -100.0% | Dec 31, 2020 | Mar 3, 2026 | 2,122 days (5.8 yrs) | Ongoing | Aug 13, 2012 |
| 2 | Sky (SKY-USD) | Crypto | -100.0% | Dec 29, 2017 | Oct 13, 2023 | 3,221 days (8.8 yrs) | Ongoing | Nov 9, 2017 |
| 3 | Wheels Up Experience Inc. (UP) | Stock | -99.9% | Jul 14, 2021 | Sep 16, 2026 | 1,927 days (5.3 yrs) | Ongoing | Nov 18, 2020 |
| 4 | Maison Solutions Inc. (MSS) | Stock | -99.8% | Dec 14, 2023 | Oct 20, 2026 | 1,044 days (2.9 yrs) | Ongoing | Oct 5, 2023 |
| 5 | Graniteshares 2x Short NVDA Daily ETF (NVD) | ETF | -99.4% | Oct 26, 2023 | Oct 6, 2026 | 1,093 days (3.0 yrs) | Ongoing | Aug 22, 2023 |
| 6 | Nano Dimension Ltd. (NNDM) | Stock | -99.3% | Mar 22, 2016 | Apr 3, 2020 | 3,867 days (10.6 yrs) | Ongoing | Mar 7, 2016 |
| 7 | Big Tree Cloud Holdings Limited (DSY) | Stock | -99.2% | Aug 25, 2023 | Jun 5, 2026 | 1,155 days (3.2 yrs) | Ongoing | Jan 11, 2023 |
| 8 | Antero Resources Corporation (AR) | Stock | -99.0% | Mar 25, 2014 | Apr 1, 2020 | 4,595 days (12.6 yrs) | Ongoing | Oct 10, 2013 |
| 9 | Carvana Co. (CVNA) | Stock | -99.0% | Aug 10, 2021 | Dec 27, 2022 | 1,451 days (4.0 yrs) | Yes | Apr 28, 2017 |
| 10 | Nano Labs Ltd (NA) | Stock | -98.7% | Jul 12, 2022 | Apr 29, 2026 | 1,564 days (4.3 yrs) | Ongoing | Jul 12, 2022 |
| 11 | Opendoor Technologies Inc. (OPEN) | Stock | -98.6% | Feb 11, 2021 | Jun 25, 2025 | 2,080 days (5.7 yrs) | Ongoing | Jun 18, 2020 |
| 12 | Power Solutions International, Inc. (PSIX) | Stock | -98.6% | May 6, 2014 | Aug 8, 2022 | 4,091 days (11.2 yrs) | Yes | Apr 19, 2012 |
| 13 | HIVE Digital Technologies Ltd. (HIVE) | Stock | -98.6% | Nov 2, 2017 | Dec 17, 2019 | 1,203 days (3.3 yrs) | Yes | Apr 19, 2012 |
| 14 | TeraWulf Inc. (WULF) | Stock | -98.5% | Nov 19, 2021 | Mar 16, 2023 | 1,799 days (4.9 yrs) | Ongoing | Apr 19, 2012 |
| 15 | Applied Optoelectronics, Inc. (AAOI) | Stock | -98.5% | Aug 1, 2017 | Jul 11, 2022 | 3,135 days (8.6 yrs) | Yes | Sep 26, 2013 |
| 16 | Teladoc Health, Inc. (TDOC) | Stock | -98.5% | Feb 8, 2021 | Feb 12, 2026 | 2,083 days (5.7 yrs) | Ongoing | Jun 30, 2015 |
| 17 | Algorand (ALGO-USD) | Crypto | -97.6% | Jun 21, 2019 | Jul 29, 2026 | 2,682 days (7.3 yrs) | Ongoing | Jun 21, 2019 |
| 18 | AXT, Inc. (AXTI) | Stock | -97.5% | Apr 19, 2012* | Apr 11, 2025 | 5,074 days (13.9 yrs) | Yes | Apr 19, 2012 |
| 19 | Fiverr International Ltd. (FVRR) | Stock | -97.4% | Feb 12, 2021 | Oct 21, 2026 | 2,079 days (5.7 yrs) | Ongoing | Jun 13, 2019 |
| 20 | Strategy Inc (MSTR) | Stock | -97.3% | Apr 19, 2012* | Jun 26, 2013 | 4,589 days (12.6 yrs) | Yes | Apr 19, 2012 |
| 21 | Lufax Holding Ltd (LU) | Stock | -97.2% | Nov 16, 2020 | Oct 23, 2026 | 2,167 days (5.9 yrs) | Ongoing | Oct 30, 2020 |
| 22 | Smart Sand, Inc. (SND) | Stock | -97.1% | Feb 22, 2017 | Mar 18, 2020 | 3,530 days (9.7 yrs) | Ongoing | Nov 4, 2016 |
| 23 | POET Technologies Inc. (POET) | Stock | -96.9% | Apr 16, 2014 | Dec 18, 2023 | 4,573 days (12.5 yrs) | Ongoing | Apr 19, 2012 |
| 24 | Studio City International Holdings Limited (MSC) | Stock | -96.9% | Nov 2, 2018 | Oct 23, 2026 | 2,912 days (8.0 yrs) | Ongoing | Oct 18, 2018 |
| 25 | Celestica Inc. (CLS) | Stock | -96.7% | Apr 19, 2012* | Mar 18, 2020 | 4,585 days (12.6 yrs) | Yes | Apr 19, 2012 |
Note: rankings cover each asset's tracked record only (see the "Data since" column), not its full trading history. A peak date marked with * means the data series began mid-drawdown, so the true depth and duration may be understated.
Deepest Stock Drawdowns
The median decline among the ten deepest stock drawdowns in the tracked record is -99.1%, versus -94.2% for the ten deepest crypto drawdowns. By that measure, the deepest individual stocks fell furthest within the tracked window.
| Rank | Asset | Type | Max drawdown | Peak date | Trough date | Duration | Recovered | Data since |
|---|---|---|---|---|---|---|---|---|
| 1 | Versus Systems Inc. (VS) | Stock | -100.0% | Dec 31, 2020 | Mar 3, 2026 | 2,122 days (5.8 yrs) | Ongoing | Aug 13, 2012 |
| 2 | Wheels Up Experience Inc. (UP) | Stock | -99.9% | Jul 14, 2021 | Sep 16, 2026 | 1,927 days (5.3 yrs) | Ongoing | Nov 18, 2020 |
| 3 | Maison Solutions Inc. (MSS) | Stock | -99.8% | Dec 14, 2023 | Oct 20, 2026 | 1,044 days (2.9 yrs) | Ongoing | Oct 5, 2023 |
| 4 | Nano Dimension Ltd. (NNDM) | Stock | -99.3% | Mar 22, 2016 | Apr 3, 2020 | 3,867 days (10.6 yrs) | Ongoing | Mar 7, 2016 |
| 5 | Big Tree Cloud Holdings Limited (DSY) | Stock | -99.2% | Aug 25, 2023 | Jun 5, 2026 | 1,155 days (3.2 yrs) | Ongoing | Jan 11, 2023 |
| 6 | Antero Resources Corporation (AR) | Stock | -99.0% | Mar 25, 2014 | Apr 1, 2020 | 4,595 days (12.6 yrs) | Ongoing | Oct 10, 2013 |
| 7 | Carvana Co. (CVNA) | Stock | -99.0% | Aug 10, 2021 | Dec 27, 2022 | 1,451 days (4.0 yrs) | Yes | Apr 28, 2017 |
| 8 | Nano Labs Ltd (NA) | Stock | -98.7% | Jul 12, 2022 | Apr 29, 2026 | 1,564 days (4.3 yrs) | Ongoing | Jul 12, 2022 |
| 9 | Opendoor Technologies Inc. (OPEN) | Stock | -98.6% | Feb 11, 2021 | Jun 25, 2025 | 2,080 days (5.7 yrs) | Ongoing | Jun 18, 2020 |
| 10 | Power Solutions International, Inc. (PSIX) | Stock | -98.6% | May 6, 2014 | Aug 8, 2022 | 4,091 days (11.2 yrs) | Yes | Apr 19, 2012 |
Deepest Crypto Drawdowns
Cryptocurrencies with a clean peak baseline in their tracked record are ranked by their single deepest episode (newly listed coins whose data never touches a peak are excluded). The median here is -94.2% for crypto versus -99.1% for stocks, and even the shallowest entry in this table reached -92.2% at its trough.
| Rank | Asset | Type | Max drawdown | Peak date | Trough date | Duration | Recovered | Data since |
|---|---|---|---|---|---|---|---|---|
| 1 | Sky (SKY-USD) | Crypto | -100.0% | Dec 29, 2017 | Oct 13, 2023 | 3,221 days (8.8 yrs) | Ongoing | Nov 9, 2017 |
| 2 | Algorand (ALGO-USD) | Crypto | -97.6% | Jun 21, 2019 | Jul 29, 2026 | 2,682 days (7.3 yrs) | Ongoing | Jun 21, 2019 |
| 3 | Solana (SOL-USD) | Crypto | -96.3% | Nov 6, 2021 | Dec 29, 2022 | 1,169 days (3.2 yrs) | Yes | Apr 10, 2020 |
| 4 | XRP (XRP-USD) | Crypto | -95.9% | Jan 7, 2018 | Mar 12, 2020 | 2,748 days (7.5 yrs) | Yes | Nov 9, 2017 |
| 5 | Polygon (prev. MATIC) (POL-USD) | Crypto | -94.4% | Mar 13, 2024 | Jun 28, 2026 | 955 days (2.6 yrs) | Ongoing | Oct 30, 2023 |
| 6 | Ethereum (ETH-USD) | Crypto | -94.0% | Jan 13, 2018 | Dec 14, 2018 | 1,116 days (3.1 yrs) | Yes | Nov 9, 2017 |
| 7 | Litecoin (LTC-USD) | Crypto | -93.5% | Dec 18, 2017 | Dec 14, 2018 | 1,238 days (3.4 yrs) | Yes | Oct 26, 2016 |
| 8 | Hedera (HBAR-USD) | Crypto | -92.8% | Sep 15, 2021 | Dec 31, 2022 | 1,865 days (5.1 yrs) | Ongoing | Sep 17, 2019 |
| 9 | Dogecoin (DOGE-USD) | Crypto | -92.3% | May 7, 2021 | Jun 18, 2022 | 1,996 days (5.5 yrs) | Ongoing | Nov 9, 2017 |
| 10 | Aave (AAVE-USD) | Crypto | -92.2% | May 18, 2021 | Jun 18, 2022 | 1,985 days (5.4 yrs) | Ongoing | Oct 2, 2020 |
The Longest Time Underwater
Depth and duration are different risks. A deep drawdown measures how far an asset fell; a long one measures how many calendar days it stayed below its prior peak before recovering (or how long the wait has lasted so far). An asset can recover quickly from a steep decline or spend years below a peak it only modestly fell from, so this table ranks each asset's longest episode by duration rather than depth. Episodes marked * began before the data window, so their true durations are longer than shown.
| Rank | Asset | Type | Max drawdown | Peak date | Trough date | Duration | Recovered | Data since |
|---|---|---|---|---|---|---|---|---|
| 1 | First Solar, Inc. (FSLR) | Stock | -96.2% | Apr 19, 2012* | Jun 1, 2012 | 5,158 days (14.1 yrs) | Yes | Apr 19, 2012 |
| 2 | Amkor Technology, Inc. (AMKR) | Stock | -94.4% | Apr 19, 2012* | Apr 18, 2013 | 5,107 days (14.0 yrs) | Yes | Apr 19, 2012 |
| 3 | AXT, Inc. (AXTI) | Stock | -97.5% | Apr 19, 2012* | Apr 11, 2025 | 5,074 days (13.9 yrs) | Yes | Apr 19, 2012 |
| 4 | Petróleo Brasileiro S.A. - Petrobras (PBR) | Stock | -95.3% | Apr 19, 2012* | Feb 11, 2016 | 5,074 days (13.9 yrs) | Yes | Apr 19, 2012 |
| 5 | Tenaris S.A. (TS) | Stock | -83.6% | Apr 19, 2012* | Oct 29, 2020 | 5,044 days (13.8 yrs) | Yes | Apr 19, 2012 |
| 6 | Vale S.A. (VALE) | Stock | -93.2% | Apr 19, 2012* | Jan 25, 2016 | 5,031 days (13.8 yrs) | Yes | Apr 19, 2012 |
| 7 | First Majestic Silver Corp. (AG) | Stock | -90.2% | Apr 19, 2012* | Jan 19, 2016 | 5,027 days (13.8 yrs) | Yes | Apr 19, 2012 |
| 8 | Rambus Inc. (RMBS) | Stock | -96.6% | Apr 19, 2012* | Jul 26, 2012 | 5,025 days (13.8 yrs) | Yes | Apr 19, 2012 |
| 9 | Barrick Mining Corporation (B) | Stock | -88.5% | Apr 19, 2012* | Sep 23, 2015 | 4,984 days (13.6 yrs) | Yes | Apr 19, 2012 |
| 10 | Suncor Energy Inc. (SU) | Stock | -81.3% | Apr 19, 2012* | Mar 18, 2020 | 4,961 days (13.6 yrs) | Yes | Apr 19, 2012 |
| 11 | ATI Inc. (ATI) | Stock | -94.7% | Apr 19, 2012* | Mar 23, 2020 | 4,941 days (13.5 yrs) | Yes | Apr 19, 2012 |
| 12 | Baker Hughes Company (BKR) | Stock | -83.6% | Apr 19, 2012* | Mar 23, 2020 | 4,905 days (13.4 yrs) | Yes | Apr 19, 2012 |
| 13 | Corning Incorporated (GLW) | Stock | -89.5% | Apr 19, 2012* | Nov 15, 2012 | 4,892 days (13.4 yrs) | Yes | Apr 19, 2012 |
| 14 | VanEck Gold Miners ETF (GDX) | ETF | -80.6% | Apr 19, 2012* | Jan 19, 2016 | 4,872 days (13.3 yrs) | Yes | Apr 19, 2012 |
| 15 | Wynn Resorts, Limited (WYNN) | Stock | -79.8% | Mar 4, 2014 | Mar 18, 2020 | 4,616 days (12.6 yrs) | Ongoing | Apr 19, 2012 |
The Biggest Drawdowns Happening Right Now
The deepest current drawdowns among tracked assets trading at least 15% below their high, with each asset's Drawdown Severity Score. This table updates daily as new price data arrives; see Explore for the full list and the market report for market-wide context.
| Rank | Asset | Type | Current drawdown | Severity Score | Days in drawdown |
|---|---|---|---|---|---|
| 1 | Signature Leisure, Inc. (SGLS) | Stock | -100.0% | 12.4Historic | 8,646 |
| 2 | Red Cat Holdings, Inc. (RCAT) | Stock | -100.0% | 12.8Historic | 8,947 |
| 3 | Versus Systems Inc. (VS) | Stock | -100.0% | 13.0Historic | 2,101 |
| 4 | Alpha Compute Corp (ALP) | Stock | -99.9% | 13.2Historic | 8,279 |
| 5 | Wheels Up Experience Inc. (UP) | Stock | -99.9% | 22.2Historic | 1,896 |
| 6 | Sky (SKY-USD) | Crypto | -99.9% | 15.2Historic | 3,221 |
| 7 | Maison Solutions Inc. (MSS) | Stock | -99.8% | 13.3Historic | 1,016 |
| 8 | Graniteshares 2x Short NVDA Daily ETF (NVD) | ETF | -99.2% | 16.7Historic | 1,062 |
| 9 | Nano Labs Ltd (NA) | Stock | -98.6% | 12.2Historic | 1,564 |
| 10 | LightPath Technologies, Inc. (LPTH) | Stock | -98.6% | 14.2Historic | 9,694 |
Depth is measured against each asset's highest split-adjusted close in DrawdownAlerts data, and days in drawdown are measured over each asset's full price history, which can extend beyond the daily tracked window used in the episode rankings above. For some long-listed companies that high dates back a decade or more, which is why a few rows show multi-year durations.
How We Measure Drawdowns
Every ranking on this page is derived from daily closing prices. For each asset we compute the running peak and the percentage below it on every trading day. A drawdown episode begins the day the price closes below a prior peak, its depth is the lowest point reached (the trough), and it ends the day the price closes back at the old peak. Duration is measured in calendar days from the pre-decline peak to recovery, or to the latest data date if the episode is still ongoing. For a primer on the concept itself, see what is a drawdown.
The tracked record spans Oct 25, 2010 through Oct 24, 2026 at the widest, but listed assets have different data start dates (newer listings and newer coins have shorter histories). That is why every table shows a per-row "Data since" date and why we describe results as the deepest or longest "in the tracked record" rather than all-time. Assets whose data series never reaches a clean peak baseline are excluded from the episode rankings.
This page recomputes from the full dataset on every daily data update, so the tables above always reflect the latest refresh. Full calculation details are in our methodology, and the severity figures in the live table use the Drawdown Severity Score.
Frequently Asked Questions
What is the biggest stock market drawdown on record?
Within the record DrawdownAlerts tracks (daily data starting as early as Oct 25, 2010, through Oct 24, 2026), the deepest drawdown belongs to Versus Systems Inc. (VS), which fell -100.0% from its Dec 31, 2020 peak to its Mar 3, 2026 trough and has not yet recovered. The deepest stock-only drawdown is Versus Systems Inc. (VS) at -100.0%. Note that each asset's record covers up to about 15 years of daily data, so earlier historical crashes are outside this window.
What is the biggest crypto drawdown we track?
Among the 15 cryptocurrencies tracked, the deepest drawdown in the tracked record is Sky (SKY-USD), which declined -100.0% from its Dec 29, 2017 peak to its Oct 13, 2023 trough, and it has not yet recovered to its prior peak. The median decline among the 10 deepest crypto drawdowns we track is -94.2%.
What is the longest drawdown on record across tracked assets?
The longest time spent below a prior peak in our tracked daily record belongs to First Solar, Inc. (FSLR): at least 5,158 days (14.1 yrs) measured from the start of its tracked record on Apr 19, 2012 (the decline began before our data window, so the true peak is earlier), until it returned to its prior peak on Jun 3, 2026. Because the decline began before our data window, the true duration is longer than shown. Durations in the live current-drawdowns table can exceed this figure because they are measured over each asset's full price history rather than the daily tracked window.
How many assets are currently in a drawdown of 15% or more?
As of Oct 24, 2026, 582 of the 920 assets DrawdownAlerts tracks are trading 15% or more below their tracked high. This figure recomputes every day when the underlying daily price data refreshes.
Do the deepest drawdowns always recover?
No. Of the 25 deepest drawdowns in our tracked record, 18 are still ongoing as of Oct 24, 2026, meaning those assets have not returned to their prior peak. History shows that some assets recover from very deep declines and others do not, which is why depth and recovery are reported separately on this page.
Data note: all figures on this page are computed from daily closing prices for 920 tracked assets, with data through . Rankings refresh automatically with each daily data update. See our methodology for details.
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DrawdownAlerts provides historical data analysis, not financial advice. Past performance does not guarantee future results. Always do your own research before making investment decisions.