Ten stocks seemed to have snoozed alongside Wall Street’s main indices on Wednesday, having registered hefty losses during the trading session.
The Dow Jones and the S&P 500 lagged in performance, ending down 0.25 percent and flat, respectively. In contrast, the tech-heavy Nasdaq rose by 0.31 percent.
In this list, we compiled the names of the 10 worst-performing stocks on Wednesday and detailed the reasons behind their declines.
To come up with the list, we considered only the stocks with at least $2 billion in market capitalization and over 5 million shares in trading volume.
10. IonQ, Inc. (NYSE:IONQ)
IonQ saw its share prices drop by 6.73 percent on Wednesday to close at $38.11 apiece amid the lack of fresh catalyst to boost buying appetite.
On Wednesday, IonQ, Inc. (NYSE:IONQ) announced a new study in partnership with the University of Washington, which, using its Forte Enterprise quantum system, observed in real-time what is known as a “lepton-number violation,” a phenomenon never directly simulated before on a quantum computer.
According to providing IonQ, Inc. (NYSE:IONQ), the study further evidenced that quantum computers may be able to model fundamental physics processes beyond the reach of classical systems.
The study, however, did not seem to impress the investing public.
IonQ, Inc. (NYSE:IONQ) traded lower in line with its peers, namely D-Wave Systems, Rigetti Computing, and Quantum Computing Inc.
9. Zeta Global Holdings Corp. (NYSE:ZETA)
Zeta Global dropped its share prices by 6.88 percent on Wednesday to end at $15.02 apiece as investors continued to take profits following its surge earlier in the week.
This followed William Blair’s reaffirmation of its “outperform” rating on its stock on the back of strong fundamentals and growth opportunities.
William Blair highlighted recent investor meetings with Zeta Global Holdings Corp.’s (NYSE:ZETA) Chief Finance Officer Chris Greiner, underscoring strong investor interest in consistent execution and growth potential.
Additionally, the rating reflected Zeta Global Holdings Corp.’s (NYSE:ZETA) bullish outlook on fundamentals and optimism of steady demand as companies seek to modernize marketing technology, enhance customer engagement, and integrate artificial intelligence into their marketing strategies.
William Blair said that the company’s continued execution and potential upside to estimates will be crucial factors in their expansion initiatives, particularly with the opportunities ahead.
8. Toast, Inc. (NYSE:TOST)
Toast Inc. fell by 7.10 percent on Wednesday to finish at $41.50 apiece, tracking a broader market pessimism and shunning an investment firm’s bullish outlook on its stock.
On Wednesday, UBS maintained its “buy” recommendation and $47 price target for Toast, Inc. (NYSE:TOST) amid expectations of strong SaaS annual recurring revenues (ARR).
UBS underscored that ARR remains the most important metric for investors, especially as it continues to record a compounding growth rate of at least 30 percent.
In the first quarter of the year, Toast, Inc. (NYSE:TOST) achieved a net income of $56 million, reversing a $83 million net loss in the same period last year.
Revenues were higher by 24 percent to $1.3 billion from $1.07 billion year-on-year, primarily driven by its financial technology solutions and subscription services.
For the full year 2025, Toast, Inc. (NYSE:TOST) expects to book between $1.775 billion and $1.795 billion in revenues from its subscription services and financial technology solutions, or a 25 to 27 percent growth from the first quarter of 2024.
For the second quarter alone, revenues from the same segment are expected to increase by 26 to 29 percent to a range of $435 million to $445 million.
7. QXO, Inc. (NYSE:QXO)
QXO declined by 7.23 percent on Wednesday to close at $21.81 apiece as investors soured on its plans to raise $2 billion through a share sale program.
In a statement on Tuesday, QXO, Inc. (NYSE:QXO) said that proceeds from the offer will be used for general corporate purposes, which may include funding future business acquisitions.
While no deal has yet to be finalized, it can be recalled that QXO, Inc. (NYSE:QXO) late last week announced plans to acquire GMS Inc. for $5 billion. The proposed transaction will cover all outstanding shares at a price of $95.20 apiece.
QXO, Inc. (NYSE:QXO) remains in a bidding war with Home Depot Inc. for the acquisition of GMS.
In relation to the share sale, the company will grant its underwriters an option to purchase up to an additional $300 million of shares of common stock at the public offering price.
Goldman Sachs & Co. LLC, Morgan Stanley, and Wells Fargo Securities are acting as underwriters for the Offering.
6. Archer Aviation Inc. (NYSE:ACHR)
Archer Aviation fell by 7.46 percent on Wednesday to finish at $9.93 apiece as investors took early profits amid the previous day’s surge, boosted by an investment firm’s bullish rating on its stock.
In its market note earlier in the week, Cantor Fitzgerald reaffirmed its “overweight” rating on Archer Aviation Inc.’s (NYSE:ACHR) stock, citing its strategic partnerships in the market, the latest being its collaboration with JetEx, which will support the deployment of electric air taxi services.
Cantor Fitzgerald also highlighted Archer Aviation Inc.’s (NYSE:ACHR) partnership with the Department of Defense, United Airlines, Stellantis, and Anduril as crucial in supporting the company’s advancement of commercialization efforts.
Earlier this month, Archer Aviation Inc. (NYSE:ACHR) raised as much as $850 million in fresh funds through the sale of 85 million shares at a price of $10 apiece. Proceeds from the offer will be used to finance new infrastructure and the rollout of an artificial intelligence-based aviation software platform.
5. CoreWeave, Inc. (NASDAQ:CRWV)
CoreWeave extended its losing streak to a third straight day on Wednesday, dropping 7.6 percent to close at $159.5 apiece as investors soured on an investment firm’s conservative rating for its stock.
HC Wainwright initiated coverage on CoreWeave, Inc.’s (CRWV) stock with a “neutral” stance, saying that its shares have outpaced fundamentals since its initial public offering.
According to HC Wainwright, CoreWeave, Inc.’s (NASDAQ:CRWV) jump to $173 from its $40 IPO boosted its market capitalization to $83 billion, which it deemed “stretched” given heavy spending plans and looming financial needs.
However, it noted that CoreWeave, Inc.’s (NASDAQ:CRWV) focus on high-performance, graphics chip-based infrastructure puts it at the center of a fast-growing market.
HC Wainwright said it expects the company to shell out between $20 billion and $23 billion this year to meet customer obligations.
4. Oklo Inc. (NYSE:OKLO)
Oklo Inc. dropped its share prices by 8.47 percent on Wednesday to end at $55.57 apiece as investors unloaded positions after one of its directors sold off nearly $3 million of his shares in the company.
In a regulatory filing, Oklo Inc. (NYSE:OKLO) said that Director Michael Klein and M. Klein Associates Inc., a ten percent owner of the company, disposed of shares on June 23, 2025, at a price of $53.7064 to $55.2205 apiece.
In recent news, Oklo Inc. (NYSE:OKLO) announced its partnership with Hexium, a pioneering isotope enrichment company, and TerraPower, a nuclear innovation company, to accelerate the domestic production of High-Assay Low-Enriched Uranium (HALEU) at industry-leading cost targets.
Oklo Inc. (NYSE:OKLO) said that the three firms will collaborate with Lawrence Livermore National Laboratory to evaluate the potential of Atomic Vapor Laser Isotope Separation (AVLIS)—a robust legacy technology that offers one of the most promising paths to commercial-scale enrichment of reactor-grade uranium.
According to Oklo Inc. (NYSE:OKLO), the lack of HALEU supply is widely seen as the most pressing obstacle to scaling the next generation of nuclear energy in the US.
3. Paychex, Inc. (NASDAQ:PAYX)
Paychex fell by 9.4 percent on Wednesday to close at $137.94 apiece, ending two straight days of gains, following a dismal earnings performance in the fourth quarter of fiscal year 2025.
In its financial statement, Paychex, Inc. (NASDAQ:PAYX) said net income declined by 22 percent during the period to $297.2 million from $379.9 million in the same period last year. Net income for the full year was also down by 2 percent to $1.657 billion from $1.690 billion year-on-year.
Total revenues, on the other hand, were higher by 10 percent at $1.427 billion during the quarter, versus the $1.295 billion in the same period last year, while for the full year, revenues rose by 6 percent to $5.571 billion from $5.278 billion.
Buoyed by its strong performance, Paychex, Inc. (NASDAQ:PAYX) boosted its revenue outlook for fiscal year 2026 to a range of 16.5 percent to $18.5 percent, with management solutions revenue alone anticipated to grow between 20 to 22 percent.
“With the successful completion of the Paycor acquisition and significant progress made on the integration, Paychex is better positioned than ever before for continued success in the digital and AI-driven era of human capital management,” said Paychex, Inc. (NASDAQ:PAYX) President and CEO John Gibson.
2. NuScale Power Corporation (NYSE:SMR)
NuScale Power dived by 10.59 percent on Wednesday to end at $38.66 apiece as investor sentiment was dampened by an investment company’s downgrade of its stock to “neutral” from “buy.”
In its market note, BTIG said its revision was based on NuScale Power Corporation’s (NYSE:SMR) limited visibility into orderbook growth, coupled with a stretched valuation following a sharp rally in its share price.
Year-to-date, NuScale Power Corporation (NYSE:SMR) already saw a 118.29-percent increase in its share prices, while the past year alone saw a 252.42-percent rally in its stock.
In recent news, NuScale Power Corporation (NYSE:SMR) joined forces with Paragon Energy Solutions to support the expansion of the nuclear industry.
Under the signed strategic agreement, Paragon Energy will supply NuScale Power Corporation (NYSE:SMR) with its CoreVision Neutron Monitoring System technology and its Highly Integrated Protection System (HIPS), which will then be incorporated into ENTRA1 Energy PlantsTM utilizing NuScale SMR technology.
1. Circle Internet Group (NYSE:CRCL)
Circle Internet extended its losses to a second day on Wednesday, shedding 10.79 percent to close at $198.62 apiece as investors appeared to have taken profits following its sharp rally since market debut.
Since its first day as a publicly listed company, Circle Internet Group (NYSE:CRCL) has already soared by more than 864 percent, having hit its highest price of $298.99 earlier this week.
The surge followed a series of catalysts that sparked investor appetite, including the Senate’s green light of the Stablecoins bill, its partnership with technology giants, as well as its first “buy” recommendation.
On Friday, Circle Internet Group (NYSE:CRCL) earned its first “buy” recommendation from Seaport Global following the Senate’s passage of a legislation that would allow the wider usage of Stablecoin.
Earlier last week, Circle Internet Group (NYSE:CRCL) announced that its USDC Stablecoin is being adopted by retail giants Amazon and Walmart, as well as e-commerce operator Shopify, which began rolling out its feature enabling merchants to accept the digital currency for payments and order fulfillment flows.
Circle Internet Group (NYSE:CRCL) also said that it partnered with blockchain firm Ripple to bring USDC Stablecoin to the latter’s XRP Ledger blockchain, as well as with digital identity company World for the addition of USDC and CCTP V2 (Cross-Chain Transfer Protocol) on World Chain.
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