PEN drawdown: 9.1% below the all-time high
Penumbra Inc. (PEN) is 9.1% below its all-time high, set Jan 27, 2026 (as of market close, Aug 13, 2026). The chart shows every day as a percentage of the highest level reached up to that point: 100% means a fresh record, everything below is a drawdown. "All-time" means since our price data begins (2015).
- Below all-time high
- −9.1%
- 90.9% of ATH
- All-time high
- $359.4
- Jan 27, 2026
- Time below the high
- 7 mo
- since Jan 27, 2026
- Worst-ever drawdown
- −62.6%
- Jun 16, 2022
- Longest underwater
- 2.5 yrs
- between all-time highs
- Today's level first reached
- Jun 12, 2023
- 3.2 yrs ago
- Last time this deep
- Jan 13, 2026
- in a previous episode
% of all-time high since 2015#
The classic underwater chart (drawdown curve), drawn as % of the all-time high — 100% is a fresh record, everything below it is time spent underwater.
% of all-time high on the price basis — the all-time high considers the full history of PEN, including years before the visible window. Dividends are excluded on this basis (the convention headlines use).
The deepest drawdowns on record#
Every decline of 15% or more from an all-time high (price basis), deepest first.
| Peak | Trough | Depth | Peak → trough | Recovered by | Underwater |
|---|---|---|---|---|---|
| Apr 28, 2021 | Jun 16, 2022 | −62.6% | 14 mo | May 9, 2023 | 2.0 yrs |
| Jun 30, 2023 | Aug 7, 2024 | −52.4% | 13 mo | Jan 15, 2026 | 2.5 yrs |
| Nov 12, 2020 | Dec 16, 2020 | −35.9% | 34 days | Feb 9, 2021 | 3 mo |
| Feb 19, 2020 | Mar 23, 2020 | −35.8% | 33 days | Jul 8, 2020 | 5 mo |
| Jun 6, 2018 | Dec 24, 2018 | −31.7% | 7 mo | Jun 14, 2019 | 12 mo |
| Jul 24, 2019 | Sep 6, 2019 | −28.1% | 44 days | Feb 11, 2020 | 7 mo |
| Nov 9, 2017 | Jan 4, 2018 | −27.0% | 56 days | Mar 6, 2018 | 4 mo |
| Sep 22, 2016 | Nov 3, 2016 | −26.1% | 42 days | Feb 21, 2017 | 5 mo |
Price basis (no dividends) — the convention crash histories use. With dividends reinvested, recoveries arrive years earlier; switch the basis on the chart above to see it.
Drawdown vs what came next#
One dot per month since 2015: how far PEN stood below its all-time high, and the total return over the following 1, 5 and 10 years.
Read this with survivorship bias in mind: PEN is on this chart precisely because it survived — the many stocks that fell this far and never recovered (or were delisted) aren't on anyone's chart, so past recoveries here say little about the odds ahead. Monthly windows also overlap heavily (they are not independent samples). Not investment advice.
FAQ#
- How far is PEN from its all-time high?
- PEN is currently 9.1% below its all-time high, set Jan 27, 2026 (as of market close, Aug 13, 2026). Prices only, the convention headlines use; with dividends reinvested the gap is usually smaller.
- What was the biggest PEN drawdown ever?
- The deepest decline on record in our data (since 2015) took the stock 62.6% below its prior high, bottoming Jun 16, 2022. The table on this page lists every major episode with its peak, trough and recovery date.
Methodology & related#
Daily closing prices since 2015 (split-adjusted). "All-time" means since our price data begins — PEN may have traded earlier. For a 150-year index drawdown record see the S&P 500 drawdown page. The price basis excludes dividends; the total-return basis reinvests them; the real basis additionally deflates by CPI. See also returns by year, 150 years of returns and the rolling-returns explorer. Past performance does not predict future returns; not investment advice.