10 Stocks Crash Harder Than Wall Street

Ten companies fell sharply on Wednesday, mirroring a broader market slump, as investors sold off positions on a series of negative developments surrounding their names.

Meanwhile, Wall Street’s main indices all finished in the red, with the Dow Jones down by 0.58 percent, the S&P 500 dropping by 0.56 percent, and the tech-heavy Nasdaq declining by 0.51 percent, as traders sold off positions ahead of the highly anticipated earnings performance of tech giant Nvidia Corp.. which came after the market bell.

In this article, let us take a look at the 10 worst-performing stocks and explore the reasons behind their poor performance. To come up with the list, we considered only the stocks with a $2 billion market capitalization and $5 million in trading volume.

10. CleanSpark, Inc. (NASDAQ:CLSK)

Shares of CleanSpark declined by 7.61 percent on Wednesday to finish at $9.11 apiece as investors sold off positions in line with the drop in Bitcoin prices.

As of 6:07 PM EST, the price of Bitcoin was down by 1.43 percent at the $107,000 level, as investors continued to book profits after reaching a record high last week. The weakness dribbled into CleanSpark, Inc. (NASDAQ:CLSK), alongside its cryptocurrency mining counterparts such as Riot Platforms Inc. and MARA Holdings Inc.

In the second quarter of fiscal year 2025, CleanSpark, Inc. (NASDAQ:CLSK) swung to a net loss attributable to shareholders of $138.8 million from a net income of $123.89 million in the same period last year.

Revenues, on the other hand, increased by 62 percent to $181.7 million from $111.8 million year-on-year.

Last month, CleanSpark, Inc. (NASDAQ:CLSK) was able to mine 633 Bitcoins, and sold 401.39, bringing its total holdings to 12,101 as of end-April.

9. Riot Platforms, Inc. (NASDAQ:RIOT)

Riot Platforms dropped its share prices by 8.32 percent on Wednesday to close at $8.38 apiece as investor sentiment was dampened by the decline in Bitcoin prices.

Riot Platforms, Inc.’s (NASDAQ:RIOT) stock declined alongside its peers, CleanSpark Inc. and MARA Holdings Inc., as traders booked profits following Bitcoin’s record high last week.

As of 6:07 PM EST, the price of Bitcoin was down by 1.43 percent at the $107,000 level.

Earlier this month, Riot Platforms, Inc. (NASDAQ:RIOT) said it was able to mine 463 Bitcoins, representing a 23-percent year-on-year growth, but lower by 13 percent month-on-month.

During the period, it was also able to sell 475 Bitcoins, bringing its total holdings to 19,211 as of end-April.

“During the month … we made the strategic decision to sell our monthly production of bitcoin to fund ongoing growth and operations. We continuously evaluate the best funding sources, considering a multitude of factors and prioritizing a strong balance sheet,” said Riot Platforms, Inc. (NASDAQ:RIOT) CEO Jason Les.