Ten companies performed poorly on Wednesday, mostly dragged down by disappointing earnings results and a pessimistic outlook, among other factors.
The companies mirrored two of Wall Street’s main indices, which ended in the red during the session, with the Dow Jones dropping 0.38 percent, and the S&P 500 declining 0.12 percent. In contrast, the tech-heavy Nasdaq grew 0.15 percent.
In this article, we name Wednesday’s 10 worst-performing stocks and break down the reasons behind their drop.
To compile the list, we focused on stocks with more than $2 billion in capitalization and 5 million shares in trading volume.
Stock market reports printed on a sheet of paper. Photo by RDNE Stock Project on Pexels
10. Novo Nordisk A/S (NYSE:NVO)
Novo Nordisk extended its losing streak to a third straight day on Wednesday, dropping 7.25 percent to close at $50.03 apiece after earning a stock downgrade from Bank of America.
In a market note, the investment firm said it downgraded Novo Nordisk A/S (NYSE:NVO) to “neutral” from “buy” previously and lowered its price target to 375 Danish kroner from 550 Danish kroner.
The revision followed the company’s pessimistic outlook for the rest of the year which would pose a challenge for its new chief executive.
In a statement earlier this week, Novo Nordisk A/S (NYSE:NVO) said it now expects full-year sales to grow between 8 and 14 percent, down from the 13 to 21 percent projected previously, as well as annual operating income growth to slow down at 10 to 16 percent as compared with the 16 to 24 percent prior.
Novo Nordisk A/S (NYSE:NVO) said the new guidance was due to an expected weaker second half sales growth forecast for its blockbuster Wegovy and Ozempic drugs.
“For Wegovy in the US, the sales outlook reflects the persistent use of compounded GLP-1s, slower-than-expected market expansion, and competition,” Novo Nordisk A/S (NYSE:NVO).
Meanwhile, the company welcomed company veteran Maziar Mike Doustdar as its new CEO, effective August 7, 2025. He will replace ousted CEO Lars Fruergaard Jørgensen.
9. TMC the metals company Inc. (NASDAQ:TMC)
Shares of TMC the metals company Inc. (NASDAQ:TMC) fell for a fourth day on Wednesday, shedding 7.56 percent to close at $6.11 apiece, amid uncertainties over its deep-sea mining intentions in the international seabed.
This followed growing criticisms from members of the International Seabed Authority (ISA) and deep-sea advocates after the company immediately announced its intention to mine in international waters, following the industry’s gaining the backing of President Donald Trump.
According to members of the ISA, TMC the metals company Inc. (NASDAQ:TMC)—being an originally Canadian company and with Canada a member of the organization—has bypassed the ISA.
In its defense, the submission was filed through its US subsidiary, leveraging the United States’ non-membership in the ISA.
Earlier this year, TMC the metals company Inc. (NASDAQ:TMC) argued that the ISA “does not have an exclusive mandate to regulate seabed mining activities in the Area, and there are existing claims outside of UNCLOS.”
“UNCLOS membership is not universal…The freedom to mine the deep seabed, like the freedom of navigation, is a high seas freedom enjoyed by all nations,” it noted.
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