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.
Photo by Anna Nekrashevich on Pexels
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.
8. Ondas Inc. (NASDAQ:ONDS)
Ondas declined for a second day on Monday, shedding as much as 8.30 percent to end at $11.16, as investors unloaded portfolios amid the potential dilution impact of the recent $8.4 million sale of convertible preferred shares.
In a regulatory filing last Friday, Ondas Inc. (NASDAQ:ONDS) said that its subsidiary, Ondas Networks Inc., entered into share purchase agreements with various lenders where they borrowed $16.5 million of cash previously, under which the latter would have the option to convert the debts into a total of 970,801 preferred shares, and further convert them into common shares.
Once exercised, the initiative would significantly help slash the group’s debt, but could also result in a potential dilution in the shares of existing common shareholders.
The filing followed Ondas Inc.’s (NASDAQ:ONDS) news earlier this month that it raised $1 billion in fresh funds from the issuance of 19 million common shares and pre-funded warrants to an institutional investor. The agreement also covers pre-funded warrants to purchase up to 41.79 million common shares.
Ondas Inc. (NASDAQ:ONDS) said that proceeds from the offer will be used for corporate development and strategic growth, including acquisitions, joint ventures, and investments.
7. Corvus Pharmaceuticals Inc. (NASDAQ:CRVS)
Corvus Pharmaceuticals dropped by 8.33 percent on Monday to finish at $23.01 apiece as investors resorted to profit-taking after soaring by 212 percent in last week’s shortened trading.
Last week’s rally followed strong results from the clinical trial of its drug candidate, soquelitinib, in patients with moderate to severe eczema.
In an updated report, Corvus Pharmaceuticals Inc. (NASDAQ:CRVS) said that its drug candidate successfully demonstrated a 72 percent reduction in the severity of enrolled patients’ eczema in the first phase trial, as compared with the 40 percent reduction for those who took the placebo.
Additionally, the therapy was observed to be even more effective when taken longer, and it was well-tolerated by enrolled patients.
Based on the positive results, Corvus Pharmaceuticals Inc. (NASDAQ:CRVS) is planning to initiate a Phase 2 trial in the first quarter of 2026 and enroll 200 patients with moderate-to-severe atopic dermatitis who have failed at least one prior topical or systemic therapy.
The trial is anticipated to enroll four cohorts of 50 patients each, with soquelitinib doses of 200 mg once per day, 200 mg twice per day, and 400 mg once per day, along with a placebo group.
The Phase 2 trial is targeted to run for 12 weeks with a 30-day follow-up period without treatment.
6. Energy Fuels Inc. (NYSEAmerican:UUUU)
Energy Fuels dropped its share prices by 8.51 percent on Monday to close at $23.33 apiece as investors resorted to profit-taking after soaring to a three-month high and nearly hitting its 52-week record.
During the session, Energy Fuels Inc. (NYSEAmerican:UUUU) notably rallied by 5.7 percent to as high as $26.96—or just $0.37 shy of its highest 52-week price of $27.33 on October 15, but later lost its momentum to finish the session in the red as investors took the opportunity to pocket gains.
In other news, Energy Fuels Inc. (NYSEAmerican:UUUU) last week acquired Australian Strategic Materials Ltd., (ASM) a leading producer of REE metals and alloys, for $299 million, as it aims to create what it believes will be the “largest, fully integrated REE mine-to-metal and alloy producer” outside of China to bridge supply gap for magnet applications, including automotive, robotic, energy, and defense technologies.
“We see an opportunity to deliver an expanded suite of REE products by combining US rare earth oxide production at our White Mesa processing facility in the US with downstream metal and alloy manufacturing capacity at ASM’s Korean Metals Plant, one of the only producing REE metals and alloys facilities outside of China. ASM’s proven skills and intellectual property will also allow us to expand REE metal and alloy capacity in the US,” said Energy Fuels Inc. (NYSEAmerican:UUUU) CEO Mark Chalmers, adding that the company would gain access to the Australian firm’s Dubbo Project, a site designed to produce critical minerals such as rare earths, zirconium, niobium, and hafnium, among others.
5. MP Materials Corp. (NYSE:MP)
MP Materials saw its share prices decline by 8.83 percent on Monday to close at $63.44 apiece as investors unloaded portfolios amid another rare earth company’s emergence as a significant competitor after securing a higher billion-dollar funding from the US government.
Over the weekend, the Trump administration said that it would invest $1.6 billion in USA Rare Earth Inc. in line with its plans to boost domestic rare earths production and reduce reliance on China. Upon closing, the transaction would give the US government a total of 16.1 million common shares and 17.6 million warrants.
The amount was significantly higher than the $400 million invested in MP Materials Corp. (NYSE:MP) last year.
In other news, MP Materials Corp. (NYSE:MP) late last year partnered with the US Department of War and the Saudi Arabian Mining Company for the development of a rare earth refinery in Saudi Arabia to support the two countries’ manufacturing and defense sectors.
Upon full operations, the new facility will process rare earth feedstock sourced from Saudi Arabia and other global regions and produce significant quantities of separated light and heavy rare earth oxides.
4. Critical Metals Corp. (NASDAQ:CRML)
Critical Metals dropped its share prices by 11.25 percent on Monday to close at $18.30 apiece as investors digested the heightening competition in the rare earths industry after one of its rivals secured a billion-dollar backing from the US government.
At intra-day trading, Critical Metals Corp. (NASDAQ:CRML) jumped by 6 percent to $21.86, albeit the rally was short-lived, having ended the session in the red. The company also fell alongside its counterpart, MP Materials Corp., following the news.
Over the weekend, the Trump administration said that it would invest $1.6 billion in USA Rare Earth Inc. in line with its plans to boost domestic rare earths production and reduce reliance on China. Upon closing, the transaction would give the US government a total of 16.1 million common shares and 17.6 million warrants.
In other news, Critical Metals Corp. (NASDAQ:CRML) said that it inked a memorandum of understanding with Tariq Abdel Hadi Abdullah Al-Qahtani & Brothers Company (TQB) for the establishment of one or more joint ventures for the development and operations of a processing plant and a refining facility in Saudi Arabia.
The mining firm said that rare earth resources would come from its Tanbreez Green Rare Earth Mine in Greenland, which is 42-percent owned by the listed firm.
“The company has now entered into four non-binding term sheets for the offtake of rare-earth concentrate extracted from the Tanbreez Project. There can be no guarantee that the company will enter into binding agreements with TQB, or the other term sheet counterparties, on terms favorable to the company or at all,” it said.
3. Redwire Corporation (NYSE:RDW)
Redwire Corporation (NYSE:RDW) dropped its share prices by 12.46 percent on Monday as investors resorted to profit-taking after jumping to a five-month high in the previous session.
Last Friday, the stock climbed to as high as $13.74—a level it last touched in August 2025—as investors took heart from President Donald Trump’s announcement of progress in the US government’s Golden Dome ambitions.
The Golden Dome, initially known as the Iron Dome of America, is an initiative of the Trump administration that aims to combine a range of capabilities to create a “system of systems” to protect the United States from “aerial attacks from any foe.”
Redwire Corporation (NYSE:RDW), for its part, announced its full support of the initiative, saying that it is exploring multiple solutions throughout the technology value chain, leveraging existing capabilities to help defend the United States.
Among its products are the SabreSat Orbital Drone—designed to detect, identify, and potentially mitigate threats; space-based sensor capabilities offering resiliency, timely threat detection, and custody; as well as Digitally Engineered Mission Systems and Integration (DEMSI) agent-based digital engineering environment, which combines commercially available systems and domain engineering tools for high fidelity simulation.
For the Golden Dome, Redwire Corporation (NYSE:RDW) said that DEMSI could enable end-to-end architecture assessment across land and space for threat mitigation.
2. Revolution Medicines Inc. (NASDAQ:RVMD)
Revolution Medicines fell sharply on Monday, losing 16.91 percent to close at $97.78 apiece, as investors unloaded portfolios following news that pharmaceutical giant Merck had cancelled ongoing negotiations for its proposed acquisition of the company.
According to a report by the Wall Street Journal, Merck decided to terminate talks after failing to agree on a valuation. Merck had been looking to take over the company for $28 billion to $32 billion.
Revolution Medicines Inc. (NASDAQ:RVMD) is advancing a pipeline of experimental medicines targeting RAS, a key molecular driver in hard-to-treat cancers.
Earlier this month, Revolution Medicines Inc. (NASDAQ:RVMD) secured a breakthrough designation from the Food and Drug Administration (FDA) for its RAS(ON) G12D-selective inhibitor, zoldonrasib, for the treatment of adult patients with KRAS G12D-mutated locally advanced or metastatic NSCLC who have been previously treated with anti-PD-1/PD-L1 therapy and platinum-based chemotherapy.
The Breakthrough Therapy Designation is based on data from the monotherapy cohort of the Phase 1 RMC-9805-001 clinical trial evaluating zoldonrasib in patients with advanced KRAS G12D solid tumors. Results from the monotherapy cohort of the trial have demonstrated a robust clinical profile, including encouraging antitumor activity and acceptable safety and tolerability.
1. TMC the metals company Inc. (NASDAQ:TMC)
TMC snapped a three-day winning streak on Monday, shedding 17.69 percent to close at $7.77 apiece as investors resorted to profit-taking while waiting for developments in relation to its deep-sea mining application with the United States for its planned exploration of the Clarion Clipperton Zone (CCZ).
This followed TMC the metals company Inc.’s (NASDAQ:TMC) submission with the National Oceanic and Atmospheric Administration (NOAA) last week, seeking the issuance of an exploration license and a commercial recovery permit for a wider coverage in the CCZ—65,000-square-kilometers, versus the 25,000-km² coverage area applied for in April 2025.
“This new application represents the culmination of more than a decade of disciplined scientific, engineering, and environmental work. It translates years of exploration, testing, and data collection into a single, comprehensive submission for a defined, expanded, and game-changing critical minerals project, with more than 800 million estimated tonnes of nodules containing high-grade nickel, copper, cobalt and manganese—representing a metal grade of approximately 3.2 percent for nickel equivalent and 7 percent copper equivalent,” said TMC the metals company Inc. (NASDAQ:TMC) Chairman and CEO Gerard Barron.
“We believe it demonstrates both the maturity of our project and our readiness to proceed to commercial operations under the US regulatory framework,” he added.
TMC the metals company Inc. (NASDAQ:TMC) is originally a Canadian company, which last year earned the ire of several members of the International Seabed Authority (ISA) for allegedly bypassing Canada, an ISA member, and the agency, with its submission to the US.
In its defense, the listed firm said that the submission was made through its US subsidiary.
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