Ten stocks ended Wednesday’s trading with a lackluster performance, as investors soured on mostly the lack of fresh company-specific developments to boost buying appetite.
Meanwhile, only the tech-heavy Nasdaq finished in the red among Wall Street’s major indices, dropping 0.26 percent. The Dow Jones and the S&P 500 both finished higher by 0.68 percent and 0.06 percent, respectively.
In this article, we name the 10 worst-performing mid-cap companies and break down the reasons behind their decline.
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.
A stock market graph. Photo by Alesia Kozik on Pexels
10. Fluence Energy Inc. (NASDAQ:FLNC)
Fluence Energy dropped for a second day on Wednesday, shedding 7.33 percent to close at $19.21 apiece, as investors repositioned portfolios ahead of the results of its full fiscal year earnings performance, where revenues were expected to hit only the lower end of its earlier guidance.
In a notice to investors, Fluence Energy Inc. (NASDAQ:FLNC) said it is scheduled to announce the results of its financial and operating highlights for the fourth quarter of fiscal year 2025 after market close on November 24, 2025.
Earlier, Fluence Energy, Inc. (NASDAQ:FLNC) provided an outlook for the full fiscal year, with revenues expected to be at $2.6 billion to $2.8 billion. However, the company noted that it would likely hit only the lower range of the guidance due to a slower-than-expected production expansion at its recently commissioned US manufacturing facilities.
Revenues from the delay are expected to carry over to fiscal year 2026.
“These facilities are expected to reach targeted capacity by calendar year-end, ensuring on-time customer deliveries and strengthening Fluence’s domestic content position,” it said.
Meanwhile, Fluence Energy, Inc. (NASDAQ:FLNC) is targeting adjusted EBITDA to settle between $0 and $20 million, reflecting stronger than projected gross margins for the third fiscal quarter, coupled with overhead cost reductions. Annual recurring revenue is pegged at $145 million.
9. Applied Digital Corp. (NASDAQ:APLD)
Applied Digital dropped by 7.56 percent on Wednesday to close at $26.41 apiece as investors sold positions following news that it secured $787.5 million in fresh funds from Macquarie Asset Management.
In a statement, Applied Digital Corp. (NASDAQ:APLD) said that the total amount forms part of the $5 billion perpetual preferred equity financing facility, which it secured earlier, proceeds of which will be used to support the development of its Polaris Forge 1 and 2 data centers in North Dakota.
Of the total, $450 million will be allocated for the completion of Forge 2, which is capable of powering 1 GW of critical IT load. Of the total capacity, some 200 MW has already been successfully leased to a US-based Investment Grade Hyperscaler. Meanwhile, the balance will be allocated for Forge 1.
In addition to the said funding, Applied Digital Corp. (NASDAQ:APLD) last Monday entered into a loan and security agreement with First National Bank of Omaha for up to $65 million in revolving loans and letters of credit from time to time.
The loan carries an interest rate of 2.75 percent per annum and will be secured by all of Applied Digital Corp.’s (NASDAQ:APLD) assets.
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