Ten stocks fell sharply on Tuesday, bucking a mostly optimistic market sentiment, as investors took path from a flurry of profit-taking, industry developments, and weak outlook, among others.
Meanwhile, Wall Street’s major indices finished mixed, with the Dow Jones the only loser by 0.83 percent. The S&P 500 and the Nasdaq both jumped by 0.41 percent and 0.91 percent, respectively.
In this article, we spotlight the 10 big names with the largest losses during the session 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. ImmunityBio Inc. (NASDAQ:IBRX)
ImmunityBio extended losses for a third day on Tuesday, shedding 4.19 percent to close at $5.95 apiece as investors continued to take profits after recording 14 straight days of gains last week.
For the entire month of January until Thursday, January 22, ImmunityBio Inc. (NASDAQ:IBRX) has already soared by 271 percent following a flurry of positive developments, including strong clinical trial results, a 700 percent sales jump from its therapy Anktiva, and expansion into international markets.
In other news, ImmunityBio Inc. (NASDAQ:IBRX) is set to announce detailed results of its QUILT-3.078 Phase 2 study evaluating a chemotherapy-free combination immunotherapy regimen in patients with second-line recurrent or progressive glioblastoma (GBM), as well as patients treated under single-patient INDs (spINDs) across first- to third-line disease.
As of last Thursday, the study has enrolled 23 patients with recurrent or progressive GBM who progressed following standard-of-care therapy, including surgery, radiation, and temozolomide-based chemotherapy.
The treatment has also demonstrated a manageable safety profile
Of the total number of enrollees, 19 remain alive, with four deaths reported to date.
9. Hecla Mining Company (NYSE:HL)
Hecla Mining dropped its share prices by 5.54 percent on Tuesday to close at $28.31 apiece amid concerns about a weaker production outlook for 2026, which would have benefited from a strong gold and silver market environment.
In a statement on Tuesday, Hecla Mining Company (NYSE:HL) announced projections of 15.1 million and 16.5 million ounces of consolidated silver production for 2026, or an implied decline by 3 to 11 percent from the 17.03 million ounces in 2025 amid expected lower milled grades at Greens Creek.
Gold production, on the other hand, is targeted at 134,000 to 146,000 ounces, or a decrease of 3 to 10.9 percent from the 150,509 ounces last year as it expects lower milled grades at its Casa Berardi site.
Meanwhile, Hecla Mining Company (NYSE:HL) released preliminary results of its production performance last year, with silver production up by 5 percent from 2024 and hitting the top end of its earlier guidance.
All sites hit the company’s production range outlook, with Lucky Friday producing 5.3 million ounces and exceeding the top end of its guidance range.
Meanwhile, gold production hit 150,509 ounces, exceeding its outlook by 509 ounces.
“Our 2025 results demonstrate operational excellence, with 17 million ounces of silver production and every primary silver operation meeting or exceeding guidance. We’re now accelerating investments in our future—nearly doubling our investment in exploration and pre-development to a record $55 million—while maintaining the financial discipline that positions us to generate substantial free cash flow. This is how North America’s premier silver producer creates long-term shareholder value,” said Hecla Mining Company (NYSE:HL) President and CEO Rob Krcmarov.
8. American Airlines Group Inc. (NASDAQ:AAL)
American Airlines extended its losing streak to a fourth consecutive day on Tuesday, shedding 7 percent to close at $13.55 apiece as investors took path from a sharp fall in its net income for both the full year and fourth quarter of 2025.
In its financial statement, American Airlines Group Inc. (NASDAQ:AAL) said that net income for full-year 2025 dwindled by 86.8 percent to $111 million from $846 million in 2024, while total operating revenues finished flat at $54.6 billion.
In the fourth quarter alone, net profit declined by 83.2 percent to $99 million from $590 million in the same period in 2024, while operating income decreased by 60.2 percent to $451 million from $1.134 billion in the same period.
Total revenues finished 2.5 percent higher at $14 billion versus $13.66 billion year-on-year, despite a negative impact of $325 million due to the government shutdown during the period.
Looking ahead, American Airlines Group Inc. (NASDAQ:AAL) is optimistic about its outlook for 2026, albeit expecting between $150 million and $200 million negative impact in revenues as a result of the 9,000 flight cancellations due to Winter Storm Fern, making it the largest weather-related operational disruption in America’s history.
7. EOS Energy Enterprises Inc. (NASDAQ:EOSE)
EOS Energy extended its losing streak to a third day on Tuesday, shedding 7.29 percent to close at $15.01 apiece as investors disposed of shares amid the lack of fresh catalysts to boost buying appetite.
In other news, EOS Energy Enterprises Inc. (NASDAQ:EOSE) announced that its Chief Commercial Officer and interim Chief Finance Officer, Nathan Kroeker, sold on Monday $802,000 worth of shares covering 50,000 units at a price of $16.04 apiece.
The sale followed the vested restricted stock units covering 100,000 shares on Friday, January 23.
In other news, EOS Energy Enterprises Inc. (NASDAQ:EOSE) launched earlier this month a new architecture designed to build large battery systems without them taking up large spaces.
Instead of spreading batteries across huge plots of land, the new architecture allows for a compact and stackable modular design targeting 1 GWh per acre, or roughly four times when batteries are installed horizontally.
The units will also be self-contained, weather-ready, and equipped with plug-and-play electrical and communications, and support a 4-16-hour duration.
The batteries could also be deployed near data centers, military bases, and infrastructure.
6. Rubrik Inc. (NYSE:RBRK)
Rubrik snapped a three-day winning streak on Tuesday, shedding 8.87 percent to close at $62.26 apiece amid the lack of fresh leads to spark buying appetite.
Year-to-date, the company has already gone down by 18.4 percent.
In other news earlier this month, Rubrik Inc. (NYSE:RBRK) unveiled a new product called Security Cloud Sovereign, which allows global organizations complete data control, including where data resides and who has access to it as regulations change.
“Our customers have been clear about what they need. They want certainty that no foreign entity, whether government or vendor, can access or control their data. For those managing sensitive data, sovereignty isn’t optional—it’s fundamental. [This] announcement reinforces our commitment to helping leaders secure their posture against foreign and domestic adversaries,” said Rubrik Inc. (NYSE:RBRK) Chief Product Officer Anneka Gupta.
Among its features, the new product is also equipped with advanced capabilities to protect and recover workloads across on-premises, cloud, and SaaS environments.
5. Pinterest Inc. (NYSE:PINS)
Pinterest fell by 9.61 percent on Tuesday to close at $23.41 apiece as investors took path from news that it would let go of 15 percent of its total workforce and slowly transition to artificial intelligence.
In a regulatory filing, Pinterest Inc. (NYSE:PINS) said that its board of directors approved a global restructuring plan that would see the layoff of several workers as well as the reduction of office spaces. It said the initiative is expected to spend around $35 million to $45 million.
“The company is taking these actions to support its transformation initiatives, including but not limited to reallocating resources to AI-focused roles and teams that drive AI adoption and execution, prioritizing AI‑powered products and capabilities, and accelerating the transformation of its sales and go-to-market approach,” Pinterest Inc. (NYSE:PINS) said.
“Although the company is reducing its overall staffing levels with these actions in the near term, [it] plans to reinvest in key development areas and strategic opportunities. The company expects to complete the plan by the end of its third quarter, ending September 30, 2026, subject to local law and consultation requirements,” it noted.
Pinterest Inc. (NYSE:PINS) is set to hold a call after market close on February 12 to discuss its earnings performance in the fourth quarter and full-year 2025. Investors will be closely watching its outlook for 2026, alongside further details about its restructuring initiative.
4. Centene Corp. (NYSE:CNC)
Centene Corp. snapped a three-day winning streak on Tuesday, slashing 10.26 percent to finish at $41.53 apiece as investors soured on the 2027 Medicare Advantage payment updates, which saw flat funding for insurers.
According to the Centers for Medicare and Medicaid Services (CMS), net average payment is projected to increase by only 0.09 percent, far lower than the 4 to 6 percent growth as expected by analysts.
Additionally, the CMS proposed tighter risk-adjustment rules, such as excluding diagnoses made only via audio calls and some chat reviews in 2027.
The announcement dragged down share prices of several listed insurers, including Centene Corp. (NYSE:CNC), UnitedHealth Group, and Oscar Health, among others.
Centene Corp. (NYSE:CNC) is one of the leading insurers in the US, heavily dependent on government-sponsored programs such as Medicare, Medicaid, and ACA.
Centene Corp. (NYSE:CNC) is set to release the results of its earnings performance for the fourth quarter and full-year period of 2025 before market open on February 6, 2026. A conference call will be held to discuss the results.
Investors will also be closely watching out for the company’s outlook following updates to the government-sponsored programs.
3. Alignment Healthcare Inc. (NASDAQ:ALHC)
Alignment Healthcare fell by 11.97 percent on Tuesday to close at $20.96 apiece as investors unloaded positions in listed insurers following the lower-than-expected preliminary payment proposals for the Medicare Advantage program.
According to the Centers for Medicare and Medicaid Services (CMS), net average payment is projected to increase by only 0.09 percent, far lower than the 4 to 6 percent growth as expected by analysts.
Additionally, the CMS proposed tighter risk-adjustment rules, such as excluding diagnoses made only via audio calls and some chat reviews in 2027.
Alignment Healthcare Inc. (NASDAQ:ALHC) dropped alongside its counterparts, namely UnitedHealth Group, CVS Health, Centene Corp., and Oscar Health, among others, having raised fears over how the companies would fare given their exposure to the government-sponsored program.
Meanwhile, investors will be closely watching out for Alignment Healthcare Inc.’s (NASDAQ:ALHC) short-term outlook following updates to the Medicare program. The company, based on its historical earnings reporting dates, would release its financial and operating highlights in the last week of February 2026.
2. UnitedHealth Group Inc. (NYSE:UNH)
UnitedHealth dropped its share prices by 19.61 percent on Tuesday to close at $282.70 apiece as investors soured on its weaker outlook for 2026, as well as disappointing Medicare Advantage payment rates for next year.
In a statement on Monday, the Centers for Medicare & Medicaid Services (CMS) announced a mere 0.09 percent increase in Medicare Advantage payments for next year, far lower than the 4 to 6 percent growth as expected by analysts.
Investors turned cautious amid the potential impact of the mere uptick on listed insurers’ profit margins.
In other news, UnitedHealth Group Inc. (NYSE:UNH) also lowered its revenue outlook for 2026 to just $439 billion, or a 2 percent decline year-on-year, reflecting planned right-sizing across the enterprise. This compares with $447.6 billion in 2025, or a 12 percent growth from 2024.
“UnitedHealth Group’s 2026 outlook is rooted in extensive actions it has taken in the past six months, including renewed operating disciplines and deeper commitment to its mission of helping people live healthier lives and helping the health system work better for everybody,” UnitedHealth Group Inc. (NYSE:UNH) said.
“The outlook reflects margin stability and growth across all four operating segments as the company continues to execute its long-term strategy,” it added.
1. Humana Inc. (NYSE:HUM)
Humana fell by 21.13 percent on Tuesday to finish at $207.93 apiece, tracking the decline in insurance companies following a flat funding in Medicare Advantage for 2027.
According to an advanced notice released on Monday, the Centers for Medicare & Medicaid Services (CMS) announced only a 0.09 percent increase in Medicare Advantage payments for next year, far lower than the 4 to 6 percent growth as expected by analysts.
“These proposed payment policies are about making sure Medicare Advantage works better for the people it serves,” said CMS Administrator Mehmet Oz.
“By strengthening payment accuracy and modernizing risk adjustment, CMS is helping ensure beneficiaries continue to have affordable plan choices and reliable benefits, while protecting taxpayers from unnecessary spending that is not oriented towards addressing real health needs,” he added.
Humana Inc. (NYSE:HUM) declined alongside its counterparts, namely CVS Health, UnitedHealth Group, Centene Corp., and Oscar Health, among others, over fears about how the updated rates would impact their profit margins next year.
Humana Inc. (NYSE:HUM) is set to hold a conference call before market open on February 11, 2026 to discuss its earnings performance for the fourth quarter and full-year 2025 periods.
Investors will also watch out for the company’s short-term outlook following policy updates.
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