QQQ Stock: Is QQQ Headed For A 50% Drop From Its Peak?

The Invesco QQQ Trust traded near $675 on Wednesday morning, roughly 12% below its all-time high, as the AI trade continues to unwind. Barchart columnist Rob Isbitts warned the ETF could fall as much as 40% from current levels, implying a drawdown of about 50% from its peak. Isbitts identified two key downside zones on the weekly chart, with a break below current support opening the door to deeper losses. The call matters because QQQ is a bellwether for mega-cap tech and AI-linked exposure, so further weakness would signal broader risk-off pressure across equities. Investors should watch whether the ETF holds its current support level, since a decisive break would validate the more bearish scenario.