Why three of NZ’s highest-profile companies have been hammered by the stock market
Three major New Zealand companies—Rocket Lab, Xero, and Air New Zealand—have seen significant declines in market value, losing a combined $90 billion. Analysts attribute the downturn to a mix of management decisions and broader global economic pressures affecting their respective sectors.
Why it matters
The decline of these high-profile stocks impacts both retail investors and national retirement funds, reflecting broader volatility in the tech and aviation sectors.
Share Story × Share Story Facebook Twitter Bluesky Reddit Email Linkedin Whatsapp Messenger Photos: Supplied. Composite image: The Spinoff Rocket Lab, Xero and Air New Zealand are some of the most widely held stocks among NZ retail investors. They all have strong brands and growing revenue. And they’ve lost a combined $90bn in share value this year. What’s going on?
With the downturn of the housing market and the growth of KiwiSaver and retail investment platforms such as Sharesies and Hatch, more New Zealanders than ever before are invested in the stock market. But while both the NZX50 and the S&P 500 have enjoyed healthy returns over the last year, it hasn’t all been smooth sailing for investors in some New Zealand-founded businesses.
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