Ten stocks lost momentum on Thursday, bucking an overall market optimism after finishing in the red territory during the session on the back of negative developments that triggered sell-offs in their stocks.
Meanwhile, the tech-heavy Nasdaq jumped by 0.94 percent, the S&P 500 grew 0.48 percent, while the Dow Jones increased by 0.27 percent.
In this article, we name the 10 companies that took a beating on Thursday and break down the reasons behind their decline.
To come up with the list, we considered the stocks with more than $100 million in market capitalization and 5 million shares in trading volume.
A person holding a cup of coffee while reading stock market data on the phone. Photo by Anna Nekrashevich on Pexels
10. Viasat Inc. (NASDAQ:VSAT)
Shares of Viasat Inc. rallied to a new all-time high on Thursday, but failed to sustain momentum after finishing the session in the red territory.
In intra-day trading, Viasat Inc. (NASDAQ:VSAT) surged to its highest 52-week price of $34.05 before erasing all gains to end the day down by 6.86 percent at $30.14 apiece after investors took early profits.
Earlier this week, the company partnered with UAE-based company Space42 to expand 5G network services to a wider range, including remote areas, by enabling Direct-to-Device services from its satellites.
This means that devices will no longer be required to tap into cellular towers in order to access network services.
The D2D service, which is targeted to become fully operational in the next three years, is expected to support more than 100 MHz of harmonized MSS spectrum already allocated across over 160 markets.
“Equatys will uniquely make possible a shared multi-orbit network of scale with standards-based open architecture to address the significant D2D and next-generation MSS market opportunity. By leveraging high performance transparent satellite architectures and shared infrastructure, the network will deliver cost efficient capacity and use 5G New Radio standards evolving the existing deployed MSS services including, for example, the safety of air, land, and sea,” said Viasat Inc. (NASDAQ:VSAT) Chairman and CEO Mark Dankberg.
9. Microbot Medical Inc. (NASDAQ:MBOT)
Microbot extended its losing streak to a fourth consecutive session on Thursday, shedding 6.93 percent to close at $3.09 apiece as investor sentiment was dampened by a potential dilution from a fundraising program that could deliver the company worth $63 million.
In a statement earlier this week, Microbot Medical Inc. (NASDAQ:MBOT) said it was able to raise $25.2 million from an options exercise, covering 12.06 million shares at a price ranging from $1.5 to $2.13 apiece.
A second offering is set to close on October 15, with more than 1.9 million shares expected to be exercised at a price of $2.10 apiece, for around $4 million in fundraising potential.
In consideration of the exercise, the company will issue to the said shareholders new short-term series J preferred investment options with an exercise price of $4.5 apiece, exercisable beginning six months after issuance.
Share prices fell on Thursday as investors reacted negatively to the fundraising program, given the potential dilution of existing stocks.
According to Microbot Medical Inc. (NASDAQ:MBOT), net proceeds are intended to be used to continue with the development, commercialization, and regulatory activities for its LIBERTY Robotic System, alongside potential acquisitions of complementary assets or products, expansion and development of additional applications derived from its existing IP portfolio, and for working capital and other general corporate purposes.
8. Grupo Financiero Galicia SA (NASDAQ:GGAL)
Grupo Financiero extended its decline for a second day on Thursday, shedding 7.65 percent to close at $27.30 apiece as investor sentiment was dampened by mounting uncertainties over Argentina’s fiscal stability.
Grupo Financiero Galicia SA (NASDAQ:GGAL) tumbled alongside its counterparts and the Argentine markets after the central bank executed its largest daily dollar sale in five months as the country tries to defend its local currency.
Investors, on the other hand, sold off positions to minimize potential risks, cutting exposure to local banks.
In other news, Grupo Financiero Galicia SA (NASDAQ:GGAL) recently received a “strong sell” recommendation from Zacks Equity Research.
In addition, Zacks said the consensus estimate for its current year earnings has been revised 6.3 percent downward over the last 60 days.
Grupo Financiero Galicia SA (NASDAQ:GGAL) is a financial services holding company based in Buenos Aires, Argentina, and which owns and operates Banco Galicia.
7. Darden Restaurants Inc. (NYSE:DRI)
Darden Restaurants fell by 7.69 percent on Thursday to close at $192.74 apiece as investors sold off positions after missing analyst earnings estimates for the first quarter of fiscal year 2026.
During the period, Darden Restaurants Inc. (NYSE:DRI) reported earnings per share of $1.97, missing analyst estimates of $2.
Net income, on the other hand, grew by 24 percent to $257.8 million from $207.2 million in the same period last year. Sales increased by 10.4 percent to $3.04 billion from $2.76 billion year-on-year, driven by a blended same-restaurant sales increase of 4.7 percent and sales from the acquisition of 103 Chuy’s Tex Mex (Chuy’s) restaurants and 22 net new restaurants.
“We had a strong start to the fiscal year with same-restaurant sales and earnings growth that exceeded our expectations,” said Darden Restaurants Inc. (NYSE:DRI) President and CEO Rick Cardenas.
“The strength of our results is a testament to the power of our strategy. Across our portfolio, our restaurant teams remained focused on being brilliant with the basics and, at the Darden level, we continued to leverage our four competitive advantages to position our brands for long-term success. Our winning strategy is enabling us to grow sales and market share, while making meaningful investments in our business and returning capital to our shareholders,” he noted.
Darden Restaurants Inc. (NYSE:DRI) owns and operates brands such as Olive Garden and LongHorn Steakhouse, among others.
6. Offerpad Solutions Inc. (NYSE:OPAD)
Offerpad Solutions fell by 8.19 percent on Thursday to finish at $4.26 apiece as investors resorted to profit-taking following the previous day’s 12-percent jump.
The recent rally followed the Federal Reserve’s 25-basis point rate cut—the first time ever this year—which raised rosy prospects for the highly rate-sensitive residential market.
Last week, Offerpad Solutions Inc. (NYSE:OPAD) CEO Brian Baer said in a technology conference that the company typically sees a trend of more people showing up to look at homes immediately after rates drop.
“There’s definitely people that are wanting or needing to move, but they’re just trying to figure out the right time,” he noted.
In other news, Offerpad Solutions Inc. (NYSE:OPAD) earlier this month announced strategic enhancements to its HomePro program, designed to simplify real estate transactions and empower agents to deliver tailored, high-value solutions to sellers.
Under the updated HomePro process, Offerpad Solutions Inc. (NYSE:OPAD) manages the entire assessment workflow, from property reviews to compiling all solution options.
Agents are free from time-consuming administrative tasks, enabling them to focus exclusively on guiding sellers through cash offers, market listings, and an innovative hybrid solution, which provides cash upfront and the opportunity to share in the upside when the home sells.
5. Super Group (SGHC) Ltd. (NYSE:SGHC)
Super Group soared to a new all-time high on Thursday after raising its growth forecast, but failed to sustain momentum after finishing the day in the negative territory.
During the session, Super Group (SGHC) Ltd. (NYSE:SGHC) jumped to an all-time high of $13.71 before giving up all gains to close the day down by 8.89 percent at $11.69 apiece.
The drop was primarily attributed to early profit-taking as investors took advantage of the intra-day high.
Earlier this week, Super Group (SGHC) Ltd. (NYSE:SGHC) raised its full-year growth outlook as the company hinted at an exceptional third quarter performance.
For the full-year period, Super Group (SGHC) Ltd. (NYSE:SGHC) raised its revenue growth outlook to a range of $2.125 billion to $2.2 billion, versus the $2.04 billion expected previously.
Adjusted EBITDA was also pegged at $550 million to $560 million, as compared with the $470 million to $480 million targeted previously.
“Our performance through the third quarter continues to demonstrate the resilience of our model and the strength of our execution. We’re seeing strong contributions from both sports and casino, deeper customer engagement, and continued margin improvement across key markets. As a result, we’re pleased to raise our full-year outlook and remain confident in our ability to deliver for our shareholders,” said CEO Neal Menashe.
4. Wolfspeed, Inc. (NYSE:WOLF)
Wolfspeed fell by 9.56 percent on Thursday to close at $2.46 apiece as investors sold off early positions over concerns about whether it would be able to exit bankruptcy over the next few weeks, as it promised.
It can be recalled that Wolfspeed, Inc. (NYSE:WOLF) filed for Chapter 11 bankruptcy in June this year after incurring insurmountable debt. On September 8, the court officially approved its plan of reorganization.
In line with the reorganization, Wolfspeed, Inc. (NYSE:WOLF) plans to reduce its debt load by approximately 70 percent, better positioning itself to execute on its strategic priorities.
“We are pleased to reach this important milestone, which clears the path for us to complete our restructuring process in the coming weeks,” CEO Robert Feurle said.
“We believe that strengthening our capital structure will help us to shape Wolfspeed into a leader in its industry, and we look forward to emerging with the financial flexibility to move swiftly on our strategic priorities and reinforce our leadership in silicon carbide. I would like to thank our talented team for their continued focus and hard work, our customers and vendors for their ongoing cooperation, and the lending group who supported our Plan of Reorganization,” he added.
3. Red Cat Holdings Inc. (NASDAQ:RCAT)
Red Cat fell by 10.91 percent on Thursday to end at $10.04 apiece as investor sentiment was dampened by plans to raise $150 million from a share sale program.
In a statement, Red Cat Holdings Inc. (NASDAQ:RCAT) said it plans to offer more than 15.6 million new common shares at a price of $9.6 apiece to raise funds for general corporate and working capital purposes.
In line with the offer, it granted its underwriters the option to purchase over 2.3 million additional shares at the public offering price, within 30 days from the share sale.
Red Cat Holdings Inc. (NASDAQ:RCAT) expects to close the sale on Friday, September 19.
Red Cat Holdings Inc. (NASDAQ:RCAT) is a US-based provider of advanced all-domain drone and robotic solutions for defense and national security. Through its wholly owned subsidiaries, Teal Drones and FlightWave Aerospace, the company develops American-made hardware and software that support military, government, and public safety operations across air, land, and sea.
2. Triller Group Inc. (NASDAQ:ILLR)
Triller Group dropped its share prices by 17.57 percent on Thursday to close at $1.22 apiece as investors resorted to profit-taking after a 29-percent rally in the previous trading day.
Thursday marked its third consecutive day of trading above the $1 level, the minimum bid price requirement, and a territory crucial to staying listed on the Nasdaq exchange.
Triller Group Inc. (NASDAQ:ILLR) has been trading below the minimum bid price requirement for four months before officially cracking past the $1 level on September 16, 2025.
Triller Group Inc. (NASDAQ:ILLR) also received a number of notification letters from the Nasdaq exchange earlier this year: on June 30 for its failure to meet the minimum bid price, and on August 19 for failing to timely file its financial reports for the fourth quarter of 2024, as well as the first and second quarters of this year. It was given until October 13, 2025 to file all delinquent filings.
The Listing Rule requires all listed companies to timely file periodic financial reports with the Securities and Exchange Commission.
1. Replimune Group, Inc. (NASDAQ:REPL)
Replimune extended losses to a second consecutive day on Thursday, slashing 39.40 percent to close at $3.46 apiece after failing to clear regulatory challenges for its treatment candidate for melanoma.
In a statement, Replimune Group, Inc. (NASDAQ:REPL) said it met with the US Food and Drug Administration on Tuesday to discuss the agency’s complete response letter for its biologics license application for RP1, in combination with nivolumab, for the treatment of advanced melanoma.
However, the FDA provided a response, which Replimune Group, Inc. (NASDAQ:REPL) cannot figure out whether the drug can move forward under the FDA’s accelerated approval.
“The feedback from the melanoma community, including patients and physicians, clearly highlights the unmet need in advanced melanoma and the compelling risk-benefit profile of RP1 observed in the IGNYTE trial,” said Replimune Group, Inc. (NASDAQ:REPL) CEO Sushil Patel.
“We remain committed to working with the FDA to determine an expeditious path forward for RP1,” he added.
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