In this article, we deep dive into the 5 stocks sinking fast. For a deeper discussion and an extended list, please see 10 Stocks Reeling From Huge Losses.
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5. Celestica Inc. (NYSE:CLS)
Celestica saw its share prices nosedive by 14.37 percent on Tuesday to finish at $361.54 apiece, as investors resorted to profit-taking after soaring to an all-time high, while “selling on news” after a strong earnings performance.
On Monday alone, Celestica Inc. (NYSE:CLS) soared to its highest price of $423.25—primarily driven by strong investor confidence for the company amid the booming AI—pushing investors to “sell on news”—an investor strategy where shares of companies are sold immediately after the release of positive news, as expected gains were already priced in the previous trading days.
Additionally, Celestica Inc. (NYSE:CLS) has already seen its share price climb by as much as 50 percent heading into month-end.
On Tuesday, the company said that it more-than-doubled its net earnings in the first quarter of the year to $212.3 million from $86.2 million in the same period last year. Revenues jumped by 53 percent to $4.05 billion from $2.65 billion year-on-year.
The strong start to the year pushed Celestica Inc. (NYSE:CLS) to raise its full-year 2026 revenue outlook to $19 billion from $17 billion previously, as well as adjusted earnings per share of $10.15 versus $8.75 prior.
4. Navitas Semiconductor Corp. (NASDAQ:NVTS)
Navitas fell by 17.38 percent on Tuesday to close at $15.12 apiece, as investors resorted to profit-taking after more than doubling its share prices this month.
On Monday, the stock climbed to an over four-year high of $19.79, marking a 126-percent surge in just the first 28 days of April, which investors took as an opportunity to book profits on Tuesday.
Navitas Semiconductor Corp. (NASDAQ:NVTS) is scheduled to report its financial and operating highlights for the first quarter of the year after market close on May 5, 2026. A conference call will follow to elaborate on the results.
For the period, the company is targeting to report revenues of $8 million to $8.5 million, or a 39 to 43 percent decline from the $14 million registered in the same period last year.
Despite the decrease, investors remained confident about the rosy prospects for the company amid the continued surge in prices and demand for semiconductors.
Investors are also expected to watch for its business outlook for the second quarter of the year.
In other news, Navitas Semiconductor Corp. (NASDAQ:NVTS) recently welcomed ex-Broadcom executive, Gregory Fischer, to its board of directors. He is tasked to serve on the company’s compensation and executive steering committees.
3. Rambus Inc. (NASDAQ:RMBS)
Rambus dropped for a second day on Tuesday, slashing 21.17 percent to close at $111.27 apiece, as investors took path from an investment firm’s rating downgrade amid the ongoing shortage of memory products.
In a market note, Baird downgraded its rating for Rambus Inc. (NASDAQ:RMBS) to neutral from outperform previously, amid an expected slowdown in Registered Dual Inline Memory Module or RDIMM.
“While the acceleration in x86 demand, notably driven by agentic AI, is positive for Rambus, we are increasingly seeing the potential for a slowdown in RDIMM [year-on-year] growth next year due to increasing DRAM shortages, which we expect will persist throughout 2027,” Baird said.
“Rambus is the classic case of a unit-driven top-line impacted at times of severe memory shortages without the benefit of higher pricing,” it noted.
On Monday, Rambus Inc. (NASDAQ:RMBS) reported a net income of $59.9 million in the first quarter of the year, flat from the $60.3 million in the same period last year. Total revenues, however, grew by 8 percent to $180.2 million from $166.7 million year-on-year.
“Rambus opened 2026 with a solid first quarter, delivering financial results in line with guidance and generating strong cash from operations,” Rambus Inc. (NASDAQ:RMBS) President and CEO Luc Seraphin said.
“The growth of AI inference and agentic workloads in the data center continues to drive demand for higher memory bandwidth, efficient data movement, and scalable connectivity. With expanding offerings across chips and IP, Rambus is well positioned to support next-generation AI platforms and drive profitable long-term growth,” he noted.
2. Erasca Inc. (NASDAQ:ERAS)
Erasca Inc. plunged by 48.30 percent on Tuesday to close at $9.90 apiece, as investors sold off positions following the death of a patient enrolled in the first phase of clinical trial testing the efficacy of its pancreatic and lung cancer treatment candidate, ERAS-0015.
In a call with analysts, Erasca Inc. (NASDAQ:ERAS) confirmed the death of a 66-year-old man who developed Grade 3 pneumonitis on 24 mg. He was said to have elected to withdraw supportive care, which later resulted in his death. Management deemed the case a “rare event.”
Despite the case, Erasca Inc. (NASDAQ:ERAS) maintained ERAS-0015 as potentially the best-in-class amid positive preliminary data from the first phase across all other enrolled patients.
According to the company, ERAS-0015 demonstrated favorable response rates, with more than half of enrolled lung cancer patients seeing their tumors shrink, and around 50 percent of pancreatic cancer patients saw shrinkage.
ERAS-0015 also demonstrated a favorable safety profile and recorded only low-grade adverse events.
“We are thrilled with the robust efficacy results demonstrated so far by our pan-RAS inhibitor ERAS-0015 in patients with lung and pancreatic cancer. The magnitude of clinical benefit seen during dose escalation is particularly striking and compares favorably with other pan-RAS, pan-KRAS, or KRAS-mutant selective inhibitors,” said Erasca Inc. (NASDAQ:ERAS) Chairman and CEO Jonathan Lim.
“Notably, preliminary data support ERAS-0015 may be combined with standard-of-care doses of panitumumab, positioning it as a potential backbone therapy for future combination regimens. Together, we believe these findings support the best-in-class potential of ERAS-0015, and we look forward to continued progress in our Phase 1 monotherapy dose expansion cohorts and combination dose escalation cohorts,” he noted.
1. Vistance Networks Inc. (NASDAQ:VISN)
Vistance saw its share prices plunge by 49.31 percent on Tuesday to close at $9.90 apiece, as investors immediately unloaded portfolios following the payment of its special cash dividends.
On Monday, shareholders of Vistance Networks Inc. (NASDAQ:VISN) on record as of April 17, were able to receive $10 in special dividends per share held, following the successful sale of its Connectivity and Cable Solutions business to Amphenol Corporation on January 9, 2026.
However, investors quickly sold off positions on Tuesday, dragging the company’s month-to-date share price down by 45.6 percent.
Investors also repositioned portfolios ahead of the results of its earnings performance for the first quarter of the year before market open on Thursday, April 30.
In other news, Vistance Networks Inc. (NASDAQ:VISN) said that its unit, Ruckus Networks, recently partnered with Nokia for the launch of a LAN solution that can address growing needs for higher-bandwidth networks to meet the demands of increasing user density, low-latency real-time applications, and next-generation use cases, such as AI.
Vistance Networks Inc. (NASDAQ:VISN) said that the new product creates a robust, intelligent in-building network infrastructure that is simple to manage and scale to the capacity demands needed to support next-generation services, and could support simplified operations, reduced power consumption, and cost.
While we acknowledge the potential of VISN 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 VISN and that has 100x upside potential, check out our report about the cheapest AI stock.
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