10 Stocks Take A Shocking Nosedive

1. Chime Financial, Inc. (NASDAQ:CHYM)

Chime Financial dropped its share prices by 8.13 percent on Wednesday to end at $31.65 apiece as investors soured on the Senate’s passage of Stablecoins bill that emerged as a potential competitor to traditional financial technology companies.

Stablecoins are a type of currency designed to maintain a 1:1 ratio with the US dollar and is widely used by cryptocurrency traders to move funds between tokens.

Under the administration of President Donald Trump, Stablecoins gained momentum as an alternative payments method, emerging as a potential competitor to traditional payments companies, including Chime Financial, Inc. (NASDAQ:CHYM).

After closing at $37.11 on its first day as a listed company, Chime Financial, Inc. (NASDAQ:CHYM) has seen its share prices decline by 14.7 percent.

While we acknowledge the potential of CHYM to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CHYM and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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