Ten companies ended Wednesday’s trading with hefty losses as investors repositioned portfolios to mitigate risks from any potential macroeconomic developments amid the Juneteenth holiday.
Trading was in line with Wall Street’s lagged performance, with the tech-heavy Nasdaq the only finisher in the green, rising by 0.13 percent. The Dow Jones and the S&P 500 dropped by 0.10 percent and 0.03 percent, respectively.
In this article, let us explore the 10 worst-performing stocks alongside the reasons behind their drop.
To come up with the list, we considered only the stocks with at least $2 billion in market capitalization and over 5 million in trading volume.
10. Transocean Ltd. (NYSE:RIG)
Transocean dropped by 3.74 percent on Wednesday to close at $3.09 apiece as investors unloaded portfolios over the lack of fresh developments to boost buying.
Wednesday’s share price marked its third straight day of decline, suggesting that investors have already priced in earlier news that it secured another $100 million contract with existing client, Equinor ASA.
Under the agreement, Transocean Ltd. (NYSE:RIG) will drill two more wells for Equinor ASA at the Spitsbergen rig in Norway as part of the latter’s drilling extension option.
The program is expected to kick off in the first quarter of 2026 in direct continuation of the rig’s current program.
The additional work followed their original three-well program on the Norwegian Continental Shelf (NCS), which was procured in 2024.
Transocean Ltd.’s (NYSE:RIG) Spitsbergen rig was built in 2010 as a sixth-generation dual-derrick winterized semi-submersible rig, which is capable of drilling high-pressure and high-temperature formations.
9. ADMA Biologics, Inc. (NASDAQ:ADMA)
ADMA Biologics saw its share prices decline by 4.02 percent on Wednesday to finish at $18.13 apiece, as investors parked funds amid the lack of fresh catalysts to spark buying.
Wednesday’s drop marked the company’s fifth straight session in the red territory, trading lower in line with its president and CEO’s disposition of shares in the company.
According to a regulatory filing, ADMA Biologics, Inc. (NASDAQ:ADMA) President and CEO Adam Grossman sold 21,000 ADMA shares at a price of $20.81 apiece on June 16 for a total value of $437,010.
On the same day, he acquired 15,000 shares at a price of $5.4 apiece for a total of $81,000.
ADMA Biologics, Inc. (NASDAQ:ADMA) said that the transaction was in line with the Rule 10b5-1 trading plan entered into between Grossman and Fidelity Brokerage Services LLC.
8. KE Holdings Inc. (NYSE:BEKE)
KE Holdings declined by 4.18 percent on Wednesday to finish at $18.13 apiece as investor sentiment was dragged down by fears of a crashing property market in China.
This followed data from China’s National Bureau of Statistics that home prices in 70 major Chinese cities declined for the 24th month in May—down 0.2 percent, as compared with the 0.1 percent in April.
New home prices retreated by 4.1 percent from the same period last year, narrower than the 4.5 percent in April 2025.
The drop spilled over to stocks of KE Holdings Inc. (NYSE:BEKE), one of the leading online real estate transaction platforms in China.
In the first quarter of the year, KE Holdings Inc. (NYSE:BEKE) saw net income attributable to shareholders increase by 98 percent to 856 million yuan from 432 million yuan in the same period last year.
Total net revenues grew by 42 percent to 23 billion yuan from 16.4 billion yuan year-on-year.
7. Cleveland-Cliffs Inc. (NYSE:CLF)
Cleveland-Cliffs dropped its share prices by 4.43 percent on Wednesday to end at $7.33 apiece as investors sold off positions following Nippon Steel’s successful acquisition of US Steel Corp.
It can be recalled that Cleveland-Cliffs Inc. (NYSE:CLF) repeatedly attempted to acquire US Steel since 2023 after former president Joe Biden blocked Nippon Steel’s purchase plan over national security issues. However, even its proposal had been repeatedly rejected.
President Donald Trump officially gave his green light for Nippon Steel’s acquisition on condition that it will sign a national security agreement with the US government.
Cleveland-Cliffs Inc. (NYSE:CLF) is a US-based steel and iron ore manufacturer based in Cleveland, Ohio, and which strongly supported Trump’s imposition of tariffs on steel imports.
Duties on imported steel and aluminum products make domestic manufacturers such as Cleveland-Cliffs Inc. (NYSE:CLF) more appealing to customers as it may bolster demand for their products, support competitive pricing for locally-produced goods, and further reduce competition with international producers.
6. AppLovin Corp. (NASDAQ:APP)
AppLovin declined by 4.46 percent on Wednesday to close at $344.37 apiece as investors unloaded portfolios while waiting for updates on key economic developments.
Additionally, sour sentiment lingered following its surprising non-inclusion to the S&P 500 index, after Bank of America and Barclays both expressed confidence that it will join the index’s recent rebalancing.
According to the two investment firms, AppLovin Corporation (NASDAQ:APP) met the criteria of at least $20.5 billion in market value and GAAP profitability over the past four quarters.
Getting included in the S&P 500 can be advantageous to stock components as it exposes them to a wider group of investors.
In the first quarter of the year, AppLovin Corporation (NASDAQ:APP) expanded its net income by 144 percent to $576 million from $236 million in the same period last year.
Revenues increased by 40 percent to $1.48 billion from $1.058 billion year-on-year.
5. Visa Inc. (NYSE:V)
Visa Inc. dropped its share prices by 4.88 percent on Wednesday to end at $340.38 apiece as investor sentiment was dampened by the Senate’s passage of the stablecoins bill, posing threats to traditional card payments.
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 Visa Inc. (NYSE:V).
In the second quarter of fiscal year 2025, Visa Inc. (NYSE:V) dropped its net income by 2 percent to $4.577 billion from the $4.663 billion registered in the same period last year.
Revenues, however, grew by 9.3 percent to $9.594 billion from $8.775 billion year-on-year.
4. Mastercard Incorporated (NYSE:MA)
Mastercard fell by 5.39 percent on Wednesday to end at $538.73 apiece as investors sold off positions on expectations that the Senate’s passage of the stablecoins bill would pose a threat to its business.
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 Mastercard Incorporated (NYSE:MA).
In the first quarter of the year, Mastercard Incorporated (NYSE:MA) saw its net income rise to $3.3 billion, higher by 10 percent than the $3 billion registered in the same period last year.
Revenues also grew by 15.87 percent to $7.3 billion from $6.3 billion year-on-year.
3. Trip.com Group Limited (NASDAQ:TCOM)
Trip.com Group saw its share prices drop by 6.81 percent on Wednesday to finish at $56.54 apiece following news that one of China’s e-commerce giants is making foray into the travel sector with a hotel membership program.
In an open letter to hoteliers, JD.com said that it would provide supply-chain services without any commission for three years in a bid to lower operational costs, enhance guest experience, and support consumer traffic to hoteliers.
The announcement weighed in on investor sentiment for Trip.com Group Limited (NASDAQ:TCOM), one of the leading multinational travel agencies globally.
Trip.com Group Limited’s (NASDAQ:TCOM) drop followed the company’s “buy” recommendation from investment firm Jefferies, with a price target of $80.
According to Jefferies, its analysis reflected its share repurchase agreement with MakeMyTrip, under which, Trip.com Group Limited (NASDAQ:TCOM) will sell a portion of its Class B ordinary shares back to MakeMyTrip for cancellation.
2. Bitdeer Technologies Group (NASDAQ:BTDR)
Bitdeer Technologies fell by 7.13 percent on Wednesday to end at $11.8 apiece as investors unloaded portfolios following plans to raise $330 million in fresh funds through a debt offering.
In a statement, Bitdeer Technologies Group (NASDAQ:BTDR) said that it plans to issue convertible senior notes to qualified institutional investors until June 23, 2025. The notes carry a yield rate of 4.875 percent to be paid semiannually on every January 1 and July 1 until 2031, unless earlier converted, redeemed or repurchased.
According to Bitdeer Technologies Group (NASDAQ:BTDR), it would allocate $129.6 million of the proceeds to pay the cost of the zero-strike call option transaction which it entered into with an affiliate of one of the institutional investors.
Meanwhile, some $36.1 million will be spent to pay the cash consideration for the concurrent note exchange transactions that it has entered into, while the remaining balance will be used for its data center expansion, ASIC based mining rig development, as well as working capital and other general corporate purposes.
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.
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