Microchip Technology (SMCI.US) is the worst performer in the S&P 500 this year, going from "darling" to "dog"

Microchip Technology (SMCI.US), once a market darling that had soared nearly 300% since January 19, has now fallen from a high growth stock to the biggest loser in the S&P 500 this year after a 33% plunge on Wednesday, its worst day since September 2022.