10 Stocks Crashing Hard Despite Highly Optimistic Market

8. Rambus Inc. (NASDAQ:RMBS)

Rambus ended three straight days of gains on Tuesday, losing 8.71 percent to end at $103.72 apiece following a dismal net income performance in the third quarter of the year.

In an updated report, Rambus Inc. (NASDAQ:RMBS) said net income ended flat at $48 million, despite total revenues increasing by 22.7 percent to $178 million from $145 million year-on-year.

Product revenues jumped by 40.9 percent to $178 million from $145 million, while contract and other revenues jumped by 34 percent to $20.1 million from $15 million.

Commenting on the performance, Rambus Inc. (NASDAQ:RMBS) President and CEO Luc Seraphin believed that the company “delivered a very strong third quarter” and that it was “well positioned amid strong secular trends in data center and AI to drive long-term profitable growth.”

For the fourth quarter of the year, Rambus Inc. (NASDAQ:RMBS) expects revenues from products to settle between $94 million and $100 million, and from contracts and other revenues to end at $25 million to $31 million.