Ten stocks fell hard on Thursday, bucking a broader market optimism, as investors turned cautious after company-specific developments that dampened sentiment.
The Nasdaq led the rally among Wall street’s main indices, jumping 0.98 percent, followed by the S&P 500, up 0.83 percent, and the Dow Jones, by 0.77 percent.
In this article, we will take a look at Thursday’s worst performers and explore the reasons behind their drop.
To come up with the list, we considered the stocks with at least $2 billion in market capitalization and 5 million shares in trading volume.
A person with stock market data on a laptop. Photo by Anna Nekrashevich on Pexels
10. C3.ai Inc. (NYSE:AI)
C3 AI extended its losing streak to a fourth consecutive day on Thursday, dropping 7.31 percent to close at $15.46 apiece, as investor sentiment was dampened by the withdrawal of its growth outlook for the full fiscal year of 2026 amid the appointment of a new chief executive.
“Given the appointment of a new Chief Executive Officer and the recent restructuring of the sales and services organizations, the Company is withdrawing its previous full-year fiscal 2026 guidance. The Company will provide guidance for the third quarter of fiscal 2026 and full-year fiscal 2026 when it announces its financial results for the second quarter of fiscal 2026,” it said.
However, C3.ai Inc. (NYSE:AI) provided growth guidance for the first quarter, with total revenues targeted between $72 million and $80 million, with non-GAAP loss from operations of $49.5 million to $57.5 million.
Effective on September 1, 2026, C3.ai Inc. (NYSE:AI) was led by Stephen Ehikian, who most recently served as acting administrator of the US General Services Administration. Thomas Siebel will continue to serve as Executive Chairman.
It can be learned that Siebel announced his resignation as CEO in July, citing health issues.
In the first quarter of fiscal year 2026, C3.ai Inc. (NYSE:AI) widened its net loss by 86 percent to $116.8 million from $62.8 million in the same period last year. Total revenues dropped 19 percent to $70.26 million from $87.2 million year-on-year.
9. Hut 8 Corp. (NASDAQ:HUT)
Hut 8 snapped an eight-day winning streak on Thursday, shedding 7.44 percent to finish at $25.61 apiece, dragged by the drop in share prices of its subsidiary, American Bitcoin, during its debut on the stock market.
In its first day as a listed firm on Wednesday, American Bitcoin Corp. (NASDAQ:ABTC) fell by 12.8 percent toward the close after opening at $9.22 and jumping to a high of $14.52. The drop continued over to Thursday, shedding another 20.27 percent to end at $6.41 apiece, suggesting that investors may have already priced in the news.
Hut 8 Corp. (NASDAQ:HUT) majority owns American Bitcoin Corp. (NASDAQ:ABTC), while the remaining stake is owned by Eric and Donald Trump Jr., sons of the US president.
Hut 8 Corp. (NASDAQ:HUT) and the Trump brothers established American Bitcoin Corp. (NASDAQ:ABTC) to serve as a Bitcoin treasury company. On the other hand, the former is a Bitcoin miner providing mining backbone while also being an equity provider to the newly listed firm.
Further dragging investor sentiment during the day was the drop in Bitcoin prices. As of writing, the price of the cryptocurrency was down by 1.23 percent at $110,339 apiece.
8. DLocal Limited (NASDAQ:DLO)
DLocal extended its losing streak to a fourth consecutive day on Thursday, slashing 7.82 percent to end at $12.84 apiece as investor sentiment was dampened by the sale of a large shareholder’s stake for $191.25 million.
In a statement, DLocal Limited (NASDAQ:DLO) said that its existing stockholder, General Atlantic, is looking to dispose its shares in the company through the sale of 15 million common shares at a price of $12.75 apiece.
While the offer would not result in any dilution, investors viewed the overall sale in a negative light.
According to DLocal Limited (NASDAQ:DLO), it will not receive any proceeds from the offering.
In line with the transaction, General Atlantic also granted the underwriters an option to purchase up to additional 2.25 million shares at the same offer price.
The offering is expected to close tomorrow, September 5.
7. Sharplink Gaming Inc. (NASDAQ:SBET)
Sharplink dropped for a sixth consecutive day on Thursday, shedding 8.26 percent to end at $15.43 apiece, as investors sold off positions amid the decline in prices of Ethereum.
As of writing, the price of the cryptocurrency was down by 3.27 percent at $4,304.92 apiece amid ongoing market uncertainties.
In other news, investors also appeared to have sold off positions following the grant of restricted stock units to its co-CEO, Joseph Chalom.
Under the inducement award plan, Chalom received an award of time-based restricted stock units covering 295,590 shares and an award of performance-based restricted stock units covering 147,795 shares last August 27.
Each time-based award will vest over three years, with one-third of the units vesting on the first anniversary of Chalom’s employment commencement date and the remaining units vesting in equal quarterly installments over the next two years.
Chalom joined Sharplink Gaming Inc. (NASDAQ:SBET) on July 25. He boasts of 20 years of experience in digital finance innovations at BlackRock, including the launch of the iShares Ethereum Trust (ETHA), the largest Ethereum exchange-traded product with over $10 billion in current assets.
6. Cipher Mining Inc. (NASDAQ:CIFR)
Cipher Mining dropped for a second day on Thursday, shedding 8.75 percent to end at $7.40 each as investors sold off positions ahead of the release of its monthly operational update, which came out a few minutes after market close.
In a statement, Cipher Mining Inc. (NASDAQ:CIFR) said it was able to mine 241 Bitcoins for the month of August, an increase of 12.6 percent from the 214 units mined in July.
During the period, it also sold 42 units, bringing its total ownership to 1,414. Cipher Mining Inc. (NASDAQ:CIFR) said it also operated at an operating hash rate of ~23 EH/s.
Additionally, its newly commissioned Black Pearl Phase I accounted for approximately 39 percent of its total Bitcoin mined.
“With all rig deliveries on schedule, the company maintains expectations that Black Pearl Phase I will reach ~10 EH/s by the end of the third quarter, bringing Cipher’s total self-mining hashrate to ~23.5 EH/s,” Cipher Mining Inc. (NASDAQ:CIFR) said.
5. Sanofi (NASDAQ:SNY)
Sanofi snapped a two-day winning streak on Thursday, shedding 9.14 percent to end at $45.33 apiece following the results of its drug candidate Amlitelimab that fell short of its predecessor’s benchmark.
In a statement, Sanofi (NASDAQ:SNY) said it was able to achieve its primary endpoints for its drug candidate, Amlitelimab, having demonstrated statistically significant and clinically meaningful skin clearance and disease severity compared to placebo at Week 24 in patients aged 12 years and older with moderate-to-severe atopic dermatitis (AD).
It said that the drug candidate was well tolerated, without any safety concerns identified in the study.
However, Amlitelimab fell short of Dupixent’s benchmark, which, during its Phase 3 trial, already achieved promising results at Week 16, suggesting that it was way weaker than its predecessor.
According to Sanofi (NASDAQ:SNY), full results will be submitted for presentation at an upcoming medical meeting.
4. Bullish (NYSE:BLSH)
Crypto exchange Bullish dropped its share prices for a second straight day on Thursday, shedding 9.68 percent to end at $49.01 apiece after earning a cautious outlook from an investment firm.
In its market note, Compass Point gave the company a “neutral” rating with a price target of $45. The figure marked a 17-percent downside from its closing price prior to the report.
In its initial coverage of the stock, Compass Point said it does not expect Bullish (NYSE:BLSH) to enter the US market until Congress passes crypto market structure legislation, which could take until next year.
“We think there could be a better buying opportunity within 1-2 quarters,” Compass Point said, underscoring Bullish’s (NYSE:BLSH) current 110x multiple on 2026 projected EBITDA.
Bullish (NYSE:BLSH) debuted on the stock market on August 13, successfully raising $1.1 billion in fresh funds from the sale of 30 million shares or 19.9 percent of its total stock.
Bullish (NYSE:BLSH) joins the roster of publicly listed cryptocurrency exchange platforms, taking advantage of President Donald Trump’s favorable attitude towards the cryptocurrency industry.
Unlike most crypto exchanges, Bullish (NYSE:BLSH) primarily caters to institutional clients, offering spot trading, margin trading, and crypto derivatives, targeting the stable and recurring revenue stream that institutional investors provide.
3. TMC the metals company Inc. (NASDAQ:TMC)
TMC snapped a three-day winning streak on Thursday, slashing 9.7 percent to end at $5.12 apiece as investors sold off positions ahead of its planned issuance of 40 million new shares that could result in the potential dilution of existing stocks.
In a regulatory filing recently, TMC the metals company Inc. (NASDAQ:TMC) told the Securities and Exchange Commission that the total number of shares will be registered under its 2021 Incentive Equity Plan and are set to be given to its employees and executives in the form of compensation.
TMC the metals company Inc. (NASDAQ:TMC) said it had already secured the approval of the shareholders for the plan.
In recent news, TMC the metals company Inc. (NASDAQ:TMC) said it widened its net loss by 268 percent in the second quarter of the year to $74.3 million from $20.17 million in the same period last year.
The figure included a non-recurring charge of $33 million for the fair value of the warrants issued to the Republic of Nauru and a charge of $16.2 million due to the increase in the fair value of warrant liability.
Operating loss grew by 8.3 percent to $21.97 million from $20.29 million year-on-year.
2. NuScale Power Corp. (NYSE:SMR)
NuScale Power ended two straight days of rally on Thursday, shedding 10.86 percent to end at $36.03 apiece as investors sold off positions to cash in on gains.
Earlier this week, the company said it joined forces with ENTRA1 Energy and the Tennessee Valley Authority (TVA) for the deployment of 6 GW of baseload power within the latter’s service region—the largest small modular reactor deployment in US history.
According to NuScale Power Corp. (NYSE:SMR), ENTRA1 Energy will deploy six plants, each powered by multiple NuScale Power Modules.
The program is expected to deliver enough carbon-free, baseload electricity to power at least the equivalent of the entire Dallas-Fort Worth metropolitan area, and power the expected Artificial Intelligence boom.
“We are honored that ENTRA1 has selected NuScale’s US NRC-approved SMR technology for this historic deployment in delivering power to the TVA region,” said NuScale Power Corp. (NYSE:SMR) President and CEO John Hopkins.
“ENTRA1’s team of energy and finance veterans brings exceptional value to our partnership—combining energy sales knowledge, investment and asset management capabilities, deep project finance expertise, and experience in delivering large-scale power infrastructure. Their experience is exactly what is required as we enter this critical next phase of commercializing and deploying NuScale Power Modules into ENTRA1 Energy Plants,” he added.
1. Figma, Inc. (NYSE:FIG)
Figma fell by 19.92 percent on Thursday to end at $54.56 apiece as investors disposed of shares following its earnings performance in the second quarter of the year.
In its updated report, Figma, Inc. (NYSE:FIG) said it swung to an attributable net income to shareholders of $846,000 from an $828 million net loss in the same period last year.
Revenues grew by 40.8 percent to $249.6 million from $177.2 million year-on-year.
In the first half of the year, attributable net income ended at $21.8 million, reversing a net loss of $814 million year-on-year. Revenues grew by 43 percent to $477 million from $333 million in the same comparable period.
Looking ahead, Figma, Inc. (NYSE:FIG) is targeting revenues of $1.021 billion to $1.025 billion for full year 2025, implying a 37-percent growth at the midpoint range year-on-year.
For the third quarter alone, revenues are expected to hit $263 million to $265 million, or a 33-percent growth year-on-year.
Following the results, Figma, Inc. (NYSE:FIG) reaffirmed its “neutral” rating and $49 price target from Goldman Sachs, saying that while the company is off to a good start, a significant revenue contribution will take time to realize.
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