Ten firms mirrored a wider market pessimism on Monday, with investor sentiment dragged down by President Donald Trump’s tariff letters to various countries.
Wall Street’s main indices all finished in the red, led by the Dow Jones with 0.94 percent, followed by the Nasdaq with 0.92 percent, and the S&P 500 at 0.79 percent.
In this article, we name the 10 worst performers on Monday and detail the reasons behind their drop.
To come up with the list, we considered only the stocks with at least $2 billion in market capitalization and over 5 million shares in trading volume.
10. Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)
Recursion Pharmaceuticals dropped its share prices by 6.45 percent on Monday to close at $4.93 apiece as investors appeared to have booked profits following four straight days of gains.
In recent news, the company unveiled Boltz-2, touted as the next-generation AI model to predict binding affinity.
According to Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX), the new model is powered by its NVIDIA supercomputer for its training and validation and represents the next step beyond existing biomolecular structure prediction models like AlphaFold3 and its predecessor, Boltz-1.
“Selecting the right molecules early is one of the most fundamental challenges in drug discovery, with implications for whether R&D programs succeed or fail,” said Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) Chief Commercial Officer Najat Khan.
“By predicting both molecular structure and binding affinity simultaneously with unprecedented speed and scale, Boltz-2 gives R&D teams a powerful tool to triage more effectively and focus resources on the most promising compounds. Collaborations like this, bridging academic innovation and industry application, play an important role in advancing the field and, ultimately, improving how we develop and deliver medicines for patients,” she added.
9. TMC the metals company Inc. (NASDAQ:TMC)
TMC the metals company snapped two straight days of gains on Monday, declining by 6.47 percent to end at $6.65 apiece as investors turned cautious about the International Seabed Authority’s (ISA) resumption of talks on controversies surrounding deep-sea mining.
This followed President Donald Trump’s order in April this year to fast-track permits for deep-sea mining even beyond US waters, taking advantage of its non-membership to the organization.
Even with Canada’s membership in the organization, TMC the metals company Inc. (NASDAQ:TMC), a Canadian firm, immediately submitted its first offshore license application, bypassing the ISA.
In recent news, TMC the metals company Inc. (NASDAQ:TMC) earned an “outperform” rating from Wedbush and an $11 price target, a significant upgrade from its “neutral” stance and $6 price target previously.
According to Wedbush, the upgrade was based on a stronger US government from President Donald Trump’s executive order in April, “Unleashing America’s Offshore Critical Minerals and Resources,” which could allow TMC the metals company Inc. (NASDAQ:TMC) to bypass the UN-affiliated International Seabed Authority and ramp up production in the Clarion Clipperton Zone.
8. Tesla, Inc. (NASDAQ:TSLA)
Tesla, Inc. (NASDAQ:TSLA) tumbled by 6.79 percent on Monday to finish at $293.94 apiece and lost as much as $68 billion in market value amid concerns about Elon Musk’s feud with President Donald Trump.
This followed Musk’s announcement that he would launch a new political party called the “America Party” and could focus on just two or three Senate seats and eight to 10 House districts, enough “to serve as the deciding vote on contentious laws, ensuring that they serve the true will of the people.”
Trump, on the other hand, called Musk’s plans “ridiculous,” saying that he was saddened “to watch Elon Musk go completely off the rails, essentially becoming a TRAIN WRECK over the past five weeks.”
For investment firm Wedbush, Musk’s planned political party is a move that would rattle investors.
“Very simply, Musk diving deeper into politics and now trying to take on the Beltway establishment is exactly the opposite direction that Tesla investors/shareholders want him to take during this crucial period for the [Tesla, Inc. (NASDAQ:TSLA)]story,” it was quoted as saying in a report by Guardian.
7. CleanSpark, Inc. (NASDAQ:CLSK)
CleanSpark dropped its share prices by 7.5 percent on Monday to finish at $11.33 apiece following the release of its June mining production which seemed to have already been priced in by investors.
Just recently, CleanSpark, Inc. (NASDAQ:CLSK) announced achieving its mid-year target of 50 EH/s of operational hash rate, which hinted at improved production last month.
During the said period, the company produced 685 Bitcoins with an average daily production of 22.82.
This put its total Bitcoin ownership to 12,608, ranking seventh among all publicly traded companies worldwide, all generated entirely through self-mining.
“June resulted in an average sale price of $105,860 per bitcoin net of customary fees, which is $446 above VWAP for the same period, not including the premiums received from derivative transactions. While these strategies are still evolving, I’m proud of the institutional-grade discipline and performance our treasury team is already demonstrating,” said CleanSpark, Inc. (NASDAQ:CLSK) CFO Gary Vecchiarelli.
6. Applied Digital Corporation (NASDAQ:APLD)
Applied Digital tumbled for a second day on Monday, losing 7.56 percent to close at $9.66 apiece amid the lack of fresh catalysts to boost investing appetite while trading lower in line with the broader market.
In recent news, Applied Digital Corporation (NASDAQ:APLD) entered into a $7-billion lease agreement with CoreWeave, Inc. (NASDAQ:CRWV).
Under the agreement covering two 15-year leases, Applied Digital Corporation (NASDAQ:APLD) will deliver 250 megawatts of critical IT load to host CoreWeave, Inc.’s (NASDAQ:CRWV) artificial intelligence (AI) and high-performance computing (HPC) infrastructure at its Ellendale, North Dakota data center campus.
It expects to deliver the first 100 MW of data center in the fourth quarter of the year, while the remaining 150 MW is expected to come online in the middle of 2026.
Following the news, B. Riley gave Applied Digital Corporation (NASDAQ:APLD) a “buy” recommendation and a new price target of $15, nearly double the $8 price target previously.
5. Galaxy Digital (NASDAQ:GLXY)
Galaxy Digital fell by 9.47 percent on Monday to close at $19.69 each amid the lack of fresh developments, while mirroring the overall market pessimism following President Donald Trump’s tariff letters to its trading partners.
In recent news, Galaxy Digital (NASDAQ:GLXY) successfully raised $175 million in fresh funds from its fundraising program called Galaxy Ventures Fund I (GVF I). The program was oversubscribed by $25 million following strong investor demand, having targeted only $150 million initially.
According to Galaxy Digital (NASDAQ:GLXY), GVF I attracted a diverse group of limited partners, including institutional investors, family offices, and strategic digital asset businesses. The portfolio included startups, namely 1Money, Arch Lending, Ethena, M^0, Monad, Plume, Rail, Rain, RedotPay, Ubyx, and Yellow Card, among others.
Proceeds from the offer will be used to invest in early-stage companies developing critical infrastructure and applications for the on-chain economy, as well as stablecoins, payments, and tokenization, among others.
4. Webull Corporation (NASDAQ:BULL)
Webull Corporation fell by 11.05 percent on Monday to end at $12.72 apiece following news that an investment fund managed by Yorkville Advisors is set to acquire a significant stake in the company for $1 billion, paving the way for a potential dilution of existing stocks.
In a statement last week, Webull Corporation (NASDAQ:BULL) said that it entered into a standby equity purchase agreement with YA II PN, Ltd which would grant Webull Corporation (NASDAQ:BULL) to issue up to $1 billion shares to Yorkville over a three-year period.
The subscription price Yorkville will pay for the shares will represent a 2.5 percent discount to the market price during each one-day pricing period elected by the company.
Webull Corporation (NASDAQ:BULL) said it intends to use the purchase agreement strategically to raise and deploy capital, using as little or as much as circumstances warrant, when market conditions and business opportunities justify doing so.
3. Apogee Therapeutics, Inc. (NASDAQ:APGE)
Apogee Therapeutics fell by 17.32 percent on Monday to end at $39.24 apiece as investors disposed of positions amid the broader market pessimism, shunning positive results from the company’s clinical trial for the treatment of eczema.
On Monday, Apogee Therapeutics, Inc. (NASDAQ:APGE) said the phase 2 clinical trial of the APG777 antibody met all primary and key secondary endpoints and exceeded trial objectives.
At the 16th week of the trial, Apogee Therapeutics, Inc. (NASDAQ:APGE) said that APG777 demonstrated a 66.9-percent improvement in the Eczema Area and Severity Index-75 (EASI-75) score, the highest topline and placebo-adjusted efficacy of any biologic in a global study.
“APG777 has the potential to set a new standard of care by offering improved clinical responses with transformational quarterly or better maintenance dosing, benefitting patients, providers, and payers. Today’s results bring us closer to that vision, and we believe further de-risks APG777’s path to approval,” said Apogee Therapeutics, Inc. (NASDAQ:APGE) CEO Michael Henderson.
2. Core Scientific, Inc. (NASDAQ:CORZ)
Core Scientific snapped an eight-day winning streak on Monday, losing 17.61 percent to close at $14.83 as investors disposed of positions following news that it was being acquired by CoreWeave (NASDAQ: CRWV) for $9 billion.
In a statement, CoreWeave (NASDAQ: CRWV) said that it signed a definitive agreement with Core Scientific, Inc. (NASDAQ:CORZ) for an all-stock transaction.
Under the terms of the agreement, Core Scientific, Inc. (NASDAQ:CORZ) stockholders will receive 0.1235 newly issued shares of CoreWeave Class A common stock for each share of Core Scientific common stock based on a fixed exchange ratio.
“As our longstanding partner, CoreWeave has experienced firsthand the operational excellence we deliver and the value of the services we provide,” said Core Scientific, Inc. (NASDAQ:CORZ) President and CEO Adam Sullivan. “Together with CoreWeave, we will be well-positioned to accelerate the availability of world-class infrastructure for companies innovating with AI while delivering the greatest value for our shareholders, who will be able to participate in the tremendous upside potential of the combined company,” he added.
1. Regencell Bioscience Holdings Ltd. (NASDAQ:RGC)
Regencell Bioscience fell by 19.83 percent on Monday to close at $18.43 apiece as investors appeared to have taken profits following Friday’s 122-percent surge.
Monday’s drop, however, was primarily due to the lack of catalysts to support investing appetite, with analysts underscoring last week that Friday’s surge was only due to short-selling activity.
Regencell Bioscience Holdings Ltd. (NASDAQ:RGC) is a Hong Kong-based company that uses traditional Chinese medicine to treat Attention Deficit Hyperactivity Disorder (ADHD) and Autism Spectrum Disorder (ASD).
Last month, the company embarked on a 38-for-one forward stock split paid in the form of a stock bonus.
The forward stock split was intended to enhance liquidity in the market for the company’s ordinary shares and make the shares more accessible to investors.
Following the split, Regencell Bioscience Holdings Ltd.’s (NASDAQ:RGC) outstanding shares have increased at the ratio of the forward stock split. The company’s authorized share capital and the share par value, however, remained unchanged.
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