Ten stocks fell sharply on Wednesday, bucking a broader market optimism, as investor sentiment was dented by mostly weak earnings performance and outlook, among other factors. Of the 10 firms, two fell to their lowest 52-week prices.
Meanwhile, all Wall Street major indices finished in the green, led by the Nasdaq with a 0.65 percent gain, followed by the Dow Jones, up 0.48 percent, and the S&P 500 with 0.37 percent.
In this article, we name the 10 worst-performing companies on Wednesday and break down the reasons behind their drop.
To come up with the list, we considered only the stocks with a $2 billion market capitalization and more than 5 million shares in trading volume.
Stock market data on a laptop screen. Photo by Alesia Kozik on Pexels
10. SSR Mining Inc. (NASDAQ:SSRM)
SSR Mining fell by 10.23 percent on Wednesday to close at $19.48 apiece as investor sentiment was dampened by a weak production outlook for full-year 2025, despite reporting a stellar earnings performance in the third quarter.
In its financial statement, SSR Mining Inc. (NASDAQ:SSRM) said it expects full-year production to settle in the lower range of its previous 410,000 to 480,000 gold equivalent ounce guidance range.
Additionally, consolidated costs were projected to hit the upper end of its guidance range as a result of higher-than-expected gold prices on royalty costs alongside its strong share price performance on share-based compensation.
In the third quarter of the year, SSR Mining Inc. (NASDAQ:SSRM) said net income attributable to shareholders surged by 523 percent to $65.4 million from $10.5 million in the same period last year. Revenues increased by 50 percent to $385.8 million from $257.3 million year-on-year.
“Our third quarter operating results were generally aligned to our internal plans, and we continue to expect that a solid fourth quarter will bring us within consolidated 2025 production guidance,” said SSR Mining Inc. (NASDAQ:SSRM) Executive Chairman Rodney Antal.
“We have numerous growth opportunities across the portfolio, particularly in Türkiye where we continue to advance requirements towards a restart of operations at Çöpler. Together with the Hod Maden investment decision, we look forward to showcasing the significant potential upside ahead for our shareholders,” he noted.
9. Live Nation Entertainment, Inc. (NYSE:LYV)
Live Nation snapped a three-day winning streak on Wednesday, shedding 10.59 percent to close at $134.79 apiece after posting a weak profit in the third quarter of the year.
In an updated report, Live Nation Entertainment, Inc. (NYSE:LYV) said net income attributable to shareholders dropped by 4.6 percent to $431 million from $451.8 million in the same quarter last year, dragged by higher expenses during the period.
Revenues, on the other hand, increased by 11 percent to $8.5 billion from $7.65 billion year-on-year.
Looking ahead, Live Nation Entertainment, Inc. (NYSE:LYV) remained upbeat about its outlook for next year, saying that it is “off to a strong start with a double-digit increase” from large-venue shows.
“At the same time, we’re continuing to invest in new venues to grow the market, create jobs, and give artists even more ways to reach fans, positioning Live Nation on a clear path for double-digit operating income and AOI growth this year and compounding at this growth level over the next several years,” said Live Nation Entertainment, Inc. (NYSE:LYV) President and CEO Michael Rapino said.
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