In this article, we take a look at five stocks that are getting crushed today. If you want to take a look at some more stocks that are declining and the latest market situation, go to the 10 Stocks Getting Crushed on Tuesday.
5. Zions Bancorporation, National Association (NASDAQ:ZION) has fallen 8.13% as of 12:12 PM ET after the Salt Lake City, Utah-based regional bank was downgraded from Strong Buy to Market Perform rating by David Long at Raymond James. The analyst highlighted that it is becoming more challenging to pick a stock in the banking sector, and he does not see a particular positive catalyst that could help Zions Bancorporation, National Association (NASDAQ:ZION) outperform other banks. The asset sensitivity of Zions Bancorporation National Association (NASDAQ:ZION) has lessened, and material share repurchase is not an option anymore.
As of Q4 2021, Zions Bancorporation, National Association (NASDAQ:ZION) was held by 27 hedge funds.
4. Snap Inc. (NYSE:SNAP) is 3.64% in the red as of 12:12 PM ET after the target price of the multimedia instant messaging application was revised down from $40 to $34 by Ygal Arounian at Wedbush. The target provides a modest potential upside of 13.67% from the last closing price. Ygal highlighted that the massive popularity of TikTok is shaping trends for social media companies globally. The analyst viewed Snap Inc.’s (NYSE:SNAP) earnings results as mixed because the company was unable to achieve the consensus revenue estimates for Q1 2022.
During Q2 2022, Bailard Inc was long over 25,982 shares of Snap Inc. (NYSE:SNAP). Of the 924 hedge funds in Insider Monkey’s database, Snap Inc. (NYSE:SNAP) was held by 55 funds as of Q4 2021.
3. JetBlue Airways Corporation (NASDAQ:JBLU) has fallen 9.49% as of 12:12 PM ET after the New York-based low-cost airline reported higher operating expenses and concerns related to operational capabilities. The extreme cold weather on the east coast also adversely impacted the financials of the airline as it operates 95% of the flights in that region. JetBlue Airways Corporation (NASDAQ:JBLU) anticipates a further capacity decline due to operational challenges. Labor shortages are preventing JetBlue Airways Corporation (NASDAQ:JBLU) from taking the full benefit of revived travel demand.
Overall, JetBlue Airways Corporation (NASDAQ:JBLU) was a member of 34 hedge fund portfolios as of Q4 2021.
2. Rivian Automotive, Inc. (NASDAQ:RIVN) has slid 7.76% as of 12:13 PM ET after the target price of the Irvine, California-based EV company was slashed from $42 to $38 with an Equal Weight rating at Barclays. The analyst highlighted risks related to ramping production and little valuation support for Rivian Automotive, Inc. (NASDAQ:RIVN). During Q1 2022, Rivian Automotive, Inc. (NASDAQ:RIVN) revealed that it produced 2,553 vehicles and delivered 1,227 units, compared to Barclay’s forecast of 1,800 units.
As of Q4 2021, 47 hedge funds held a stake in Rivian Automotive, Inc. (NASDAQ:RIVN).
1. Twitter, Inc. (NASDAQ:TWTR) is down 3.10% as of 12:13 PM ET after the California-based microblogging and social media giant was warned by the EU regarding its acquisition by Tesla, Inc. (NASDAQ:TSLA) CEO Elon Musk. One of the prominent regulators in the EU highlighted that Twitter, Inc. (NASDAQ:TWTR) needs to comply with rules related to moderating illegal and harmful content. The EU approved the Digital Services Act last week, which requires Big Tech companies like Twitter, Inc. (NASDAQ:TWTR) to take more responsibility for the content that users post online, along with other requirements.
Of the 924 hedge funds in Insider Monkey’s database, Twitter, Inc. (NASDAQ:TWTR) was held by 83 funds as of Q4 2021.
You can also take a peek at the 12 Best US Stocks to Buy Now and Top 9 Stocks Billionaire Larry Robbins Just Added to His Portfolio.
