Ten stocks kicked off the trading week with sharp losses, as investors priced in company-specific developments, while taking profits from last week’s surge.
The stocks bucked a broader market optimism, with the Dow Jones leading gains by 0.64 percent. The S&P 500 followed with a 0.50 percent jump, while the Nasdaq increased by 0.43 percent.
Indices aside, we highlight the 10 worst-performing companies on Monday and break down the reasons behind their drop.
To come up with the list, we focused exclusively on stocks with a $2 billion market capitalization and 5 million shares in trading volume.
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10. Plug Power Inc. (NASDAQ:PLUG)
Plug Power dropped its share prices by 8 percent on Monday to close at $2.3 apiece as investors digested the potential dilution impact of its proposal to double its capital stock.
In a notice to its investors last week, Plug Power Inc. (NASDAQ:PLUG) said that it is planning to raise its authorized capital stock to 3 billion from 1.5 billion at present to meet its financial obligations, maintain operating flexibility, and continue executing its business plan.
Should shareholders reject the initiative, Plug Power Inc. (NASDAQ:PLUG) would implement a reverse stock split in order to create sufficient share availability to meet its financial obligations and maintain business flexibility.
Apart from the capital stock hike, it would also seek approval of the shareholders to modernize voting standards that would allow certain future charter amendments to be approved by a majority of votes cast, where permitted under the Delaware General Corporation Law (DGCL).
“This change ensures that outcomes are determined by the stockholders who actively participate in the voting process, rather than by shares that are not voted at all. Under the Company’s current charter, shares that are not voted effectively have the same impact as votes cast against a proposal, which can prevent proposals from passing even when a clear majority of voting stockholders support them,” Plug Power Inc. (NASDAQ:PLUG) said.
A special meeting is set to be held at 10 AM on Thursday, January 29, to vote on both proposals.
9. Booz Allen Hamilton Holding Corp. (NYSE:BAH)
Booz Allen Hamilton snapped a three-day winning streak on Monday, losing 8.12 percent to close at $93.93 apiece following the Treasury Department’s termination of all contracts with the company in relation to a tax information leak of the wealthiest people in the US.
On Monday, Treasury Secretary Scott Bessent announced that he had cancelled all contracts after Charles E. Littlejohn, a former Booz Allen Hamilton Holding Corp. (NYSE:BAH) employee, linked tax information of some of the wealthiest people, including President Donald Trump, Elon Musk, and Jeff Bezos, among others.
“President Trump has entrusted his cabinet to root out waste, fraud, and abuse, and canceling these contracts is an essential step to increasing Americans’ trust in government,” Bessent said.
“Booz Allen failed to implement adequate safeguards to protect sensitive data, including the confidential taxpayer information it had access to through its contracts with the Internal Revenue Service,” he added.
The announcement followed Booz Allen Hamilton Holding Corp.’s (NYSE:BAH) third quarter earnings call on Friday, where it also provided an outlook for the full fiscal year of 2026.
For the said period, Booz Allen Hamilton Holding Corp. (NYSE:BAH) said that revenues were lowered to a range of $11.3 billion to $11.4 billion, versus the high-end range of $11.5 billion previously. The new figure implies a decline of 5 to 6 percent year-on-year.
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