Ten stocks took a beating on Wednesday, mimicking a mostly pessimistic broader market, as investors repositioned portfolios amid geopolitical and macroeconomic uncertainties. Notably, investors turned cautious amid concerns over a bubbling AI.
On Wall Street, only the Dow Jones finished in the green, inching up 0.04 percent. The S&P 500 and the tech-heavy Nasdaq dropped by 0.24 percent and 0.67 percent, respectively.
Indices aside, this article focuses on the 10 companies that led the session’s decline and breaks down the reasons behind their performance.
To compile the list, we focused exclusively on stocks with $2 billion in market capitalization and at least 5 million shares in trading volume.
A man in black suit holding a tablet looks at stock market data on a monitor. Photo by Tima Miroshnichenko on Pexels
10. Cameco Corporation (NYSE:CCJ)
Cameco Corp. extended losses to a second day on Wednesday, shedding 4.54 percent to close at $70.47 apiece, as investors appeared to be in a wait-and-see mode for updates on the geopolitical front, alongside macroeconomic uncertainties surrounding the uranium industry.
Cameco Corporation (NYSE:CCJ) dropped alongside its counterparts as investors unloaded positions while waiting for developments on the Russia-Ukraine potential ceasefire that could stamp out the possibility of sanctions on the latter’s strategic nuclear sector.
Without such sanctions, US uranium producers would remain in cut-throat competition with Russian suppliers.
Earlier this week, uranium stocks also took a beating from news that Kazakhstan—the world’s largest uranium producer—is ramping up production of uranium products.
Through KATKO, a joint venture with France’s Orano Mining, Kazakhstan is planning to scale production back up to 4,000 metric tons per year, a level it last touched in 2021 after slashing output by 2,000 tons between 2017 and 2024 due to declining uranium prices.
The higher production is expected to begin as early as next year.
9. Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)
Recursion Pharmaceuticals dropped for a third straight day on Wednesday, slashing 6.29 percent to close at $4.77 apiece after investors mimicked the recent selling of three company executives.
In separate regulatory filings on Tuesday, Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) announced that its chief executive officer (CEO), chief financial officer (CFO), and chief research and development officer (CRDO) unloaded positions in the company on August 15 and 18.
CEO Christopher Gibson, for his part, unloaded $40,390 worth of shares on August 15 at a price of $5.64. Despite the transaction, Gibson’s stake in the company remained at 954,229.
Meanwhile, CFO Ben Taylor also unloaded $11,908 worth of shares in Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) on August 15 at a price of $5.64 apiece, bringing his ownership in the company to 811,226.
CRDO Najat Khan sold shares worth $3,789 at a price of $5.64 on August 15, followed by shares amounting to $36,599 at an average price of $5.524 on August 18, 2025.
All transactions represented shares that have been withheld to satisfy tax withholding and remittance obligations in connection with the net settlement of restricted stock units.
In the second quarter of the year, Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) widened its net loss by 76 percent to $171.9 million from $97.5 million in the same period last year. Total revenues increased by 33 percent to $19.2 million from $14.4 million year-on-year.
8. Zeta Global Holdings Corp. (NYSE:ZETA)
Zeta Global Holdings Corp. (NYSE:ZETA) dropped for a second day on Wednesday, shedding 4.42 percent to end at $18.17 apiece as investors unloaded positions in Artificial Intelligence companies amid concerns about a bubbling industry.
This followed OpenAI CEO Sam Altman’s comments over the weekend that an “AI bubble is forming” amid the increased spending in the industry.
“When bubbles happen, smart people get overexcited about a kernel of truth,” Altman was quoted as saying in an interview with reporters.
“Are we in a phase where investors as a whole are overexcited about AI? My opinion is yes. Is AI the most important thing to happen in a very long time? My opinion is also yes,” he added.
Altman appeared to compare such a dynamic to the infamous dot-com bubble, a stock market crash centered on internet-based firms that led to a massive investor enthusiasm during the late 1990s.
Between 2000 and 2002, the tech-heavy Nasdaq wiped out nearly 80 percent of its value after many of the companies failed to generate revenues and profits.
Zeta Global Holdings Corp. (NYSE:ZETA), an AI-powered marketing cloud, saw its net loss in the second quarter of the year narrow by 54 percent to $12.8 million from $28.1 million in the same period last year. Revenues grew by 35 percent to $308 million from $227.8 million year-on-year.
7. Target Corp. (NYSE:TGT)
Shares of Target Corp. (NYSE:TGT) fell back to the $99 level on Wednesday, as investors were dampened by a flurry of negative developments, including a weak outlook, a change in leadership, and lower price targets, among others.
At the close, the company declined by 6.33 percent to close at $98.69 apiece following a dismal earnings performance in the second quarter of the year. During the period, net income declined by 21.5 percent to $935 million from $1.19 billion in the same period last year.
Net sales, on the other hand, dipped by 0.9 percent to $25.2 billion from $25.45 billion year-on-year.
Following the results, Target Corp. (NYSE:TGT) maintained expectations of a low-single digit decline in sales, with GAAP earnings per share between $8 and $10, and adjusted EPS of $7 to $9.
Also on the same day, Target Corp. (NYSE:TGT) announced the transition to a new leadership with the appointment of Michael Fiddelke as its next CEO. He was set to replace Brian Cornell.
“He’s contributed meaningfully during times of change and played a critical role in establishing the differentiated capabilities that will continue to drive Target forward,” Cornell said in a statement.
Following the news, investment firm Jefferies further lowered its price target for the company to $115 from $120 previously, after already reducing it from $130 last May.
6. SoundHound AI, Inc. (NASDAQ:SOUN)
SoundHound AI extended its losing streak to a fourth consecutive day on Wednesday, shedding 6.47 percent to close at $12.44 apiece as investors unloaded positions to mitigate risks surrounding the Artificial Intelligence industry.
SoundHound AI, Inc. (NASDAQ:SOUN) dropped alongside its AI counterparts after Altman announced over the weekend that an “AI bubble is forming” amid the industry’s increased spending.
Altman appeared to compare such a dynamic to the infamous dot-com bubble, a stock market crash centered on internet-based firms that led to a massive investor enthusiasm during the late 1990s.
Between 2000 and 2002, the tech-heavy Nasdaq lost nearly 80 percent of its value after many of these companies failed to generate revenue or profits.
In the second quarter of the year, SoundHound AI, Inc. (NASDAQ:SOUN) said revenues expanded by 217 percent to $42.68 million from only $13.46 million in the same period last year, but was not enough to bolster profits, having incurred a $74.7 million net loss during the period, marking a 100-percent increase from the $37.3 million net loss in the same comparable quarter.
5. Intel Corporation (NASDAQ:INTC)
Intel Corp. saw its share prices drop by 6.99 percent on Wednesday to finish at $23.54 apiece over concerns about the US government’s increasing interference in private companies.
This came after President Donald Trump announced that the US government was keen on supporting the beleaguered company with financial backing through the CHIPS Act funds, in exchange for a 10-percent stake in the company.
Commenting for the US government, Commerce Secretary Howard Lutnick said the equity funding was “not governance.”
“We’re just converting what was a grant under Biden into equity for the Trump administration, for the American people. Nonvoting,” he said.
The financial support followed a meeting between Intel Corporation (NASDAQ:INTC) CEO Lip-Bu Tan and President Donald Trump earlier this month after the latter criticized the company’s chief for his nationality and alleged threats to national security.
According to Trump, his meeting with Tan turned out well, saying that he was inspired by his rising story.
In a bid to claw back to profitability, Intel Corporation (NASDAQ:INTC) embarked on a corporate restructuring plan that included the reduction of a significant chunk of its workforce, exiting businesses, and selling stakes at a discount—the latest being a $2-billion share sale to Japan-based SoftBank.
4. Oscar Health, Inc. (NYSE:OSCR)
Oscar Health dropped its share prices by 8.18 percent on Wednesday to close at $15.27 apiece as investors unloaded positions amid the overall market pessimism while waiting for fresh catalysts to spark buying appetite.
Last week, Oscar Health, Inc. (NYSE:OSCR) teamed up with Hy-Vee Health for the launch of a new employer-backed insurance product called “Hy-Vee Health with Oscar” in Des Moines, Iowa.
The product, which supports the individual coverage health reimbursement arrangements (ICHRA), allows individuals and employees to choose their preferred health insurance packages and have them paid by their employers.
According to Oscar Health, Inc. (NYSE:OSCR), the plan is available to 400,000 employees in greater Des Moines through their employer on the individual marketplace starting Nov. 1, 2025, for coverage effective Jan. 1, 2026.
“We are shaping the future of healthcare for consumers and employers. Everyone deserves healthcare that is affordable, convenient, and simple. Our partnership reflects the innovation we are driving in the individual market to exceed expectations across the country,” said Oscar Health, Inc. (NYSE:OSCR) CEO Mark Bertolini.
3. Alcon Inc. (NYSE:ALC)
Shares of Alcon Inc. snapped a six-day winning streak on Wednesday, losing 10.07 percent to close at $81.04 apiece as investor sentiment was dampened by a dismal earnings performance and a weaker outlook for full-year 2025.
In its updated report, Alcon Inc. (NYSE:ALC) said net income attributable to shareholders fell by 21 percent to $176 million from $223 million in the same period last year. Revenues grew by 3.8 percent to $2.577 billion from $2.482 billion year-on-year.
In the first half, attributable net income grew by 11.7 percent to $526 million from $471 million year-on-year, while revenues inched up by 2 percent to $5.03 billion from $4.9 billion in the same comparable period.
Looking ahead, Alcon Inc. (NYSE:ALC) lowered its net sales outlook for the full 2025 period, now between $10.3 billion and $10.4 billion, versus the $10.4 billion to $10.5 billion as expected previously. This would translate to a 4 to 5 percent growth year-on-year, as compared with the 6 to 7 percent expected previously.
According to Alcon Inc. (NYSE:ALC), the outlook assumes a full-year gross tariff impact of approximately $100 million, which is expected to pressure the cost of net sales.
2. Opendoor Technologies Inc. (NASDAQ:OPEN)
Opendoor Technologies extended its losses to a second day on Wednesday, shedding 11.05 percent to close at $3.22 apiece as investors continued to sell off positions following what analysts deemed a “meme rally” last week.
In just the past 14 trading days of the month, Opendoor Technologies Inc. (NASDAQ:OPEN) has already seen a 75-percent surge in its share prices, enough to merit a profit-taking amid the lack of catalysts to sustain the rally.
In recent news, Opendoor Technologies Inc. (NASDAQ:OPEN) announced the immediate resignation of CEO Carrie Wheeler, who took over the role in 2022 but failed to reassure investors of the ongoing turnaround efforts. She was temporarily replaced by chief technology officer Shrisha Radhakrishna while a permanent CEO has yet to be named.
Meanwhile, Opendoor Technologies Inc. (NASDAQ:OPEN) recently regained compliance from the Nasdaq after it notified the company earlier this year of its failure to meet the $1 minimum bid price requirement to stay listed.
The issue was resolved after Opendoor Technologies Inc. (NASDAQ:OPEN) announced on August 1 that it had successfully traded above the minimum level for 12 consecutive days from July 15 to 30.
In the second quarter of the year, Opendoor Technologies Inc. (NASDAQ:OPEN) remained at a net loss of $29 million, albeit lower by 68 percent than the $92 million in the same quarter last year.
1. James Hardie Industries plc (NYSE:JHX)
James Hardie extended its losing streak to a fifth consecutive day on Wednesday, hitting a new record low, as investors unloaded portfolios amid a housing slump that weighed down heavily on building materials, while digesting a weaker growth outlook for the rest of the year.
During the trading session, the company dropped to its lowest 52-week price of $17.91 before paring losses to end the day just down by $18.64 apiece.
In an updated report released on Tuesday, James Hardie Industries plc (NYSE:JHX) said net income for the first quarter of fiscal year 2026 fell by 60 percent to $62.6 million from $155.3 million in the same period last year.
Net sales also dipped by 9 percent to $899.9 million from $991.9 million year-on-year.
While demand has already been expected in the next few months, James Hardie Industries plc (NYSE:JHX) forecast a further softer outlook as “single-family new construction activity has been weaker than anticipated.”
“Uncertainty is a common thread throughout conversations with customer and contractor partners. Homeowners are deferring large-ticket remodeling projects like re-siding, and affordability remains the key impediment to improvement in single-family new construction, where more recently, homebuilders are moderating their demand expectations and slowing starts to align their home inventory with a decelerating pace of traffic and sales,” James Hardie Industries plc (NYSE:JHX) CEO Aaron Erter noted.
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