5 Worst Performing NASDAQ Stocks In 2023

3. GDS Holdings Limited (NASDAQ:GDS)

Number of Hedge Fund Holders: 22

YTD Share Price Decline as of July 30: 42.97%

GDS Holdings Limited (NASDAQ:GDS) is a company in China that develops and operates data centers. The company offers colocation services, managed hosting services, managed cloud services, and consulting services. GDS Holdings Limited (NASDAQ:GDS) is one of the worst performing NASDAQ stocks in 2023. On May 25, the company reported a Q1 GAAP loss per share of $0.05, exceeding Wall Street estimates by $0.12. However, the revenue of $350.8 million fell short of market consensus by $11.81 million. 

According to Insider Monkey’s first quarter database, GDS Holdings Limited (NASDAQ:GDS) was part of 22 hedge fund portfolios, compared to 20 in the earlier quarter. Joel Ramin’s 12 West Capital Management is the largest stakeholder of the company, with 6.2 million shares worth $116 million. 

Here is what Baron Partners Fund has to say about GDS Holdings Limited (NASDAQ:GDS) in its Q4 2021 investor letter:

“The Fund’s Core Growth investments were negatively impacted by the market rotation to value-oriented businesses. Fundamentals for most of our Core Growth holdings remain strong. We exited two positions in this space, which included GDS Holdings Limited. GDS, a Chinese data center, suffered from increased oversight and regulation from the Chinese government. While we still appreciate the long-term prospects for both businesses, we believe the current environment for both is difficult and uncertain.”