Wall Street’s main indices finished in the green territory on Friday amid a series of catalysts buoying investor appetite.

The Dow Jones Industrial Average rose by 0.80 percent, while the S&P 500 and Nasdaq Composite rallied by 1.26 percent and 1.77 percent, respectively.

Despite the wider optimistic sentiment, 10 companies managed to post declines. Here is why:

To come up with Friday’s top losers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

10. Sibanye Stillwater Ltd. (NYSE:SBSW)

Sibanye Stillwater, a mining and metals processing company, saw its share prices decline by 2.88 percent or 0.10 points to end at $3.37 apiece as investor sentiment was dampened by news of job cuts.

Late last year, the company announced that it was retrenching 700 employees at its Montana mining as part of a restructuring, due in part to a dive in palladium prices and the loss of over $350 million in Montana in 2023. The recent job cut followed the first 100 layoffs in November.

The company is the largest employer in Stillwater County, employing people from across south-central and southeastern Montana. The recent layoff led to the introduction of a bill seeking to ban the import of Russian palladium.

9. Ambev S.A. (NYSE:ABEV)

Shares of Ambev S.A. dropped for a sixth day on Friday, losing 3.54 percent or 0.0653 points to close at $1.77 apiece as the company grapples with uncertainties brought about by strict regulations, high taxes, inflation, and rising costs.

A report by Statista earlier last month said that the global beer market is facing uncertain times as consumption in key regions noticeably declined coupled with rising costs. In the US alone, production volume fell by 19 percent, reaching a new low of 165 million barrels in 2023.

A major factor behind the decreasing demand is that global drinking habits have shifted dramatically over the last few years. Modern consumers are increasingly focused on health and wellness and seek alternatives to traditional alcoholic beverages, giving rise to the rapidly growing low and no-alcohol trend.

8. BlackBerry Ltd. (NYSE:BB)

Shares of BlackBerry Ltd. dropped by 3.66 percent or 0.14 points to finish Friday at $3.68 apiece as investors pocketed early gains after touching a 52-week high at intra-day trading.

Earlier this week, the company made a strategic decision to relaunch the QNX brand in response to the growing clamor from customers, partners, and stakeholders.

The QNX offers a wide range of safety-certified and secure software products to fuel the development of next-generation software-defined vehicles (SDVs) and mission-critical applications.

The revitalized QNX brand will debut at CES 2025, which will take place from January 7–10 in Las Vegas. The company noted that the rebranding strategy not only honors the legacy of QNX but also unlocks new streams for growth, enabling the IoT division to meet evolving market demands with precision-engineered solutions.

7. D-Wave Quantum Inc. (NYSE:QBTS)

D-Wave Quantum Inc. saw its share prices on Friday decline by 4.89 percent or 0.47 points to finish at $9.14 apiece as investors took profit following yesterday’s gain.

Despite the decline, prospects for the company remained strong, with optimism bolstered by quantum advancements led by Google’s Willow chips and Amazon’s Quantum Embark.

Analysts believe that the company will benefit from the advancements in the quantum computing sector especially as it is expected to be at the forefront of technological advancements, particularly AI, over the next few years.

US lawmakers also announced support for quantum computing development, recently promising $2.7 billion in government funding to supercharge quantum innovation across computing, sensing, and communications.

6. Rigetti Computing Inc. (NASDAQ:RGTI)

Shares of Rigetti Computing dropped by 4.9 percent or 0.98 points to finish at $19.02 apiece as investors pocketed gains following a 31-percent surge in the previous trading day.

Similar to other quantum computing stocks, analysts remained bullish on Rigetti amid the rapid expansion of the global quantum computing market, currently valued at $1.3 billion. The market is projected to grow at an impressive compound annual growth rate (CAGR) of 32.7 percent, potentially reaching $5.3 billion by 2029.

According to analysts, Rigetti (RGTI) stands to largely benefit from the expected growth, on their promises of developing essential resources. Just recently, the company debuted its innovative Novera quantum processor.

It is also worth noting that Google’s advancements in the Quantum space with its newest Willow chip contributed to the rally on shares of Quantum stocks, including Rigetti.

5. Alcoa Corp. (NYSE:AA)

Alcoa Corp. saw its shares drop by 6 percent or 2.28 points to finish at $35.71 each as investors sold off positions amid the lack of clear catalysts to spark buying appetite.

As indicated by its 30-day performance, investors appeared to be cautious about the company’s growth prospects amid multiple macroeconomic factors that are putting brakes on the rally in aluminum prices seen through COVID-19. At present, aluminum prices are down by 35 percent to $2,580 from a high of about $4,000 per metric ton in March 2022.

Alcoa produces and sells bauxite, alumina, and aluminum products, while also operating hydropower plants that generate and sell electricity to various industrial and wholesale markets.

4. United States Steel Corporation (NYSE:X)

News of outgoing president Joe Biden blocking Japanese firm Nippon Steel from acquiring US Steel Corporation sent the latter’s stock price tumbling by 6.53 percent on Friday to end at $30.47 apiece.

In a statement, Biden said: “As I have said many times, steel production – and the steelworkers who produce it – are the backbone of our nation. A strong domestically owned and operated steel industry represents an essential national security priority and is critical for resilient supply chains.”

The move did not come as a surprise as Biden has long announced that he was against the deal. However, experts feared that the recent decision could have implications for future foreign investments in American firms.

Incoming president Donald Trump also signaled opposing the acquisition and that he would also block it once he takes office.

3. Quantum Computing Inc. (NASDAQ:QUBT)

Shares of Quantum Computing Inc. declined by 6.69 percent on Friday, shedding 1.25 points to close at $17.50 each as investors sold off positions ahead of the 2025 Consumer Electronics Show.

Investors appeared to be waiting on the sidelines for any updates and potential developments from the technology experts in the quantum computing sector, being the backbone of technology and artificial intelligence.

Analysts, however, remained bullish on the sector, amid the rapid expansion of the global quantum computing market, currently valued at $1.3 billion. The market is projected to grow at an impressive compound annual growth rate (CAGR) of 32.7 percent, potentially reaching $5.3 billion by 2029.

US lawmakers also announced support for quantum computing development, recently promising $2.7 billion in government funding to supercharge quantum innovation across computing, sensing, and communications.

2. Carvana Co. (NYSE:CVNA)

Shares of Carvana Co. dropped for a fifth day on Friday following news that a shareholder law firm was investigating the company over alleged violations of the securities law.

According to reports, the Schall Law Firm initiated a probe into Carvana’s alleged false and misleading statements and its failure to disclose information pertinent to investors.

The investigation stemmed from a recent report published by Hindenburg Research on January 2, 2025, titled: “Carvana: A Father-Son Accounting Grift For The Ages,” which alleged that the company’s turnaround is a “mirage.”

“Our research uncovered $800 million in loan sales to a suspected undisclosed related party, along with details on how accounting manipulation and lax underwriting have fueled temporary reported income growth—all while insiders cash out billions in stock,” the report claimed.

1. CNX Resources Corp. (NYSE:CNX)

Shares of CNX Resources Corp. posted the biggest decline on Friday, dropping 11.25 percent or 4.20 points to close at $33.12 apiece.

According to analysts, shares of the company were weighed down by its lukewarm reception of the new hydrogen tax credits.

While it acknowledges the environmental and economic benefits of Coal Mine Methane, CNX said that the final rules of Section 45V, the Clean Hydrogen Production Tax Credit, seem too restrictive and do not offer sufficient economic incentives to expand its CMM capture operations for hydrogen use.

Despite reservations, the company said it is planning to leverage the validation and explore alternative incentive pathways for CMM, such as voluntary markets, other tax incentives, and compliance program commercial opportunities.

While we acknowledge the potential of CNX as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than CNX but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.