'Who would have thought the tech giants weren't the winners of the US stock market.'
With 2 more trading sessions of the United States (US) market remaining, the Wall Street indices do not have to wait for the last day to know their annual performance.
In 2022, Wall Street recorded its worst performance since the 2008 financial crisis with the S&P 500 down almost 20% due to an environment of rising interest rates and inflation.
Even so, despite the declining performance of stocks there are also those who managed to record profits by taking advantage of other factors such as the war.
Follow the roundup of the most profitable and losing stocks on Wall Street in 2022.
Most Profitable Stocks: Energy Stocks
The energy industry seems to be gaining popularity with the rising oil and gas prices due to inflationary factors.
For this year alone, the energy sector managed to record a yield of over 60%, surpassing the performance of the S&P 500.
Among the most successful companies were Occidental Petroleum which recorded a jump of 122%, Constellation Energy at 109% and Hess at 94%.
Even though the price of oil and gas experienced a decline in the last few weeks it still emerged as a winner for this year with energy companies recording 81% profit, in line with S&P projections.
Worst Stocks: Tech Stocks
There is no denying the policy tightening and the surge in inflation pressured technology-themed stocks including communications.
Among the most affected companies are Generac Holdings which fell 74%, Match Group which fell 70% and Elon Musk's Tesla which also fell 70% and Meta Platform which fell 65%.
On average those companies fell short of the S&P 500's set targets with big-tech seeing a decline of nearly $4 trillion overall in 2022.
