10 Stocks Deep in the Red

6. Cipher Mining Inc. (NASDAQ:CIFR)

Cipher Mining saw its share prices drop by 10.41 percent on Tuesday to close at $17.64 apiece as investors resorted to profit-taking following a whopping 40 percent gain last week.

Despite the shortened trading session last week in line with the Thanksgiving holiday, Cipher Mining Inc. (NASDAQ:CIFR) saw its share prices break past the $21 level before trimming gains to end the day at $20.35.

However, the said level still marked a 44 percent jump from the previous week, which investors took as an opportunity to book profits.

In other recent developments, Cipher Mining Inc. (NASDAQ:CIFR) announced plans to officially redeem its outstanding warrants for $0.01 apiece until 5 PM on December 26, 2025. The warrants are only exercisable on a cashless basis.

Any warrants that remained unexercised by the deadline will then be void and no longer exercisable.

In the third quarter of the year, Cipher Mining Inc. (NASDAQ:CIFR) trimmed its net loss by 96 percent to $3.28 million from $86.75 million in the same period last year.

Revenues soared by 197 percent to $71.7 million from $24.1 million year-on-year.