Ten companies posted a sluggish performance last week, with investor sentiment weighed down by a wave of negative developments, including disappointing earnings performance, not-so-impressive study results, as well as potential share sales that sparked concerns about equity dilution.
In this article, we have identified the 10 worst-performing stocks last week and detailed the reasons behind their drop.
Our analysis focused only on companies with a trading volume of more than $ 5 million and a market capitalization of $2 billion. Rankings were based on their closing prices on May 30 and May 23, 2025.
10. D-Wave Quantum Inc. (NYSE:QBTS)
D-Wave Quantum dropped its share prices by 13 percent week-on-week as investors sold off positions amid the lack of fresh catalysts, while taking profits from last week’s gain, boosted by the launch of its new quantum computer capable of solving complex problems beyond the reach of classical computers.
Called the Advantage2, the new computer is capable of addressing real-world use cases in areas such as optimization, materials simulation, and artificial intelligence (AI).
Customers are now able to access the Advantage2 system through D-Wave Quantum Inc.’s (NYSE:QBTS) LeapTM real-time quantum cloud service, which is available in more than 40 countries and offers 99.9 percent availability and uptime, sub-second response times, and SOC 2 Type 2 compliance to meet enterprise needs and security requirements.
Additionally, last week’s performance was dampened by the company’s comment that the US was already lagging behind other countries in quantum annealing.
Quantum annealing is a specific type of quantum computing for finding optimal solutions to optimization problems by leveraging quantum phenomena such as superposition and quantum tunneling.
9. The Cooper Companies, Inc. (NASDAQ:COO)
The Cooper Companies saw its share prices decline by 13.38 percent week-on-week, with investor sentiment dampened by its weak outlook guidance and lowered ratings from three investment companies.
In its latest earnings call, The Cooper Companies, Inc. (NASDAQ:COO) said it now sees organic growth of 5 to 6 percent for fiscal year 2025, down from the 6 to 8 percent as targeted previously.
Meanwhile, JPMorgan, Wells Fargo, and Bank of America all lowered their price targets for The Cooper Companies, Inc. (NASDAQ:COO).
JPMorgan, for its part, lowered its rating to “neutral” from “overweight” and gave the firm a price target of $76, a 31-percent cut from the $110 previously.
“It’s hard to come away feeling positive following several quarters of mixed execution and a potentially durable slowdown in market trends back to previous levels,” JPMorgan said.
For its part, Wells Fargo also reduced its price target for The Cooper Companies, Inc. (NASDAQ:COO) to $93 from $118 previously, while Bank of America cut its price target to $96 from $120.
8. Rigetti Computing, Inc. (NASDAQ:RGTI)
Rigetti Computing slashed its week-on-week share prices by 13.6 percent as investors soured on its planned $350 million share sale that could lead to the dilution of existing shareholders’ equity.
Based on its final prospectus, Rigetti Computing, Inc. (NASDAQ:RGTI) will issue more than 317 million shares at the market to raise funds for working capital, capital expenditures, and general corporate purposes.
Rigetti Computing, Inc. (NASDAQ:RGTI) tapped Jefferies LLC as its sales agent for the offer.
“If you purchase shares of our common stock sold in this offering, you may experience immediate and substantial dilution in the net tangible book value of your shares,” the company said.
In the first quarter of the year, Rigetti Computing, Inc. (NASDAQ:RGTI) swung to a net income attributable to shareholders of $38.2 million versus a $20.77 million net loss in the same period last year.
Revenues, on the other hand, fell by 52 percent to $1.47 million from $3.05 million in the same period last year, as loss from operations expanded by 30 percent to $21.6 million from $16.58 million year-on-year.
7. Okta, Inc. (NASDAQ:OKTA)
Okta Inc. lost 16.6 percent of its value in just a week’s session as investor sentiment was dented by its cautious outlook amid macroeconomic uncertainties.
In its earnings release last week, Okta, Inc. (NASDAQ:OKTA) said it is now “factoring in potential risks related to the uncertain economic environment” for the remainder of fiscal year 2026.
In the first quarter, Okta, Inc. (NASDAQ:OKTA) swung to a net income of $62 million from a $40 million net loss in the same period last year. Revenues were higher by 11.5 percent to $688 million from $617 million year-on-year.
For the second quarter, the company expects revenues to grow by 10 percent to a range of $710 million to $712 million, as well as revenues of $2.85 billion to $2.86 billion for the full fiscal year of 2026.
“The world’s biggest organizations continue to turn to Okta to solve identity security across their workforces, customers, and AI use cases. We remain focused on driving profitable growth, accelerating innovation, and delivering the only modern, unified identity security platform for our customers,” said Okta, Inc. (NASDAQ:OKTA) CEO Todd McKinnon.
6. Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)
Regeneron Pharmaceuticals declined by 16.7 percent last week as investors sold off positions amid the surprising failure of its potential treatment for chronic obstructive pulmonary disease (COPD) in one of its late-stage trials.
According to Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN), the first trial of the Phase 3 study for the efficacy of itepekimab in adult former smokers with COPD met the primary target of showing a 27-percent reduction in the worsening symptoms after 52 weeks. However, the second trial failed to meet the same endpoint, having reduced by only 2 percent during the same study period.
Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN), along with its partner, Sanofi, said that they are reviewing the data and will discuss with regulatory authorities to evaluate next steps.
“Certain people with COPD are in desperate need of new treatment options, especially those who continue to experience exacerbations despite being on maximal therapy, and we remain committed to discussing these data with regulatory agencies to evaluate our path forward,” said Sanofi Head of Research and Development Houman Ashrafian.
5. Trump Media & Technology Group Corp. (NASDAQ:DJT)
Trump Media fell by 17 percent week-on-week as investors disposed of shares following news that it was raising $2.5 billion through the sale of more shares and bonds.
In a regulatory filing, Trump Media & Technology Group Corp. (NASDAQ:DJT) said that it entered into a subscription agreement with 50 institutional investors for the sale of roughly 50 million shares of the company at a price of $25.72 apiece. The fundraising activity sparked sell-offs among existing investors as it immediately resulted in the dilution of their equity.
Additionally, Trump Media & Technology Group Corp. (NASDAQ:DJT) clinched a $1-billion subscription agreement with certain investors for the sale of bonds that can also be converted at a later date.
Proceeds from both fundraising programs are intended to be used for their Bitcoin treasury strategy, which they expect to be the largest treasury to date.
“We view Bitcoin as an apex instrument of financial freedom, and now Trump Media will hold cryptocurrency as a crucial part of our assets,” said CEO Devin Nunes.
4. PDD Holdings Inc. (NASDAQ:PDD)
PDD Holdings dropped its share prices by 19 percent last week as investor sentiment was weighed down by its dismal earnings performance in the first quarter of the year.
In its financial statement, PDD Holdings Inc. (NASDAQ:PDD) said net income attributable to shareholders declined by 47 percent to 14.74 billion yuan from the 27.99 billion yuan registered in the same period last year.
Total revenues, on the other hand, increased by 10 percent to 95.67 billion yuan from 86.8 billion yuan in the same comparable period.
“As communicated previously, a slowdown in growth rate is expected as our business scales and challenges emerge. This trend has been further accelerated by the changes in the external environment in the first quarter,” said PDD Holdings Inc. (NASDAQ:PDD) Vice President for Finance Jun Liu.
“Our financial results may continue to reflect the impact of sustained investments in the ecosystem as we support merchants and consumers through uncertain times,” she added.
PDD Holdings Inc. (NASDAQ:PDD) owns and operates the e-commerce platform Temu.
3. Galaxy Digital (NASDAQ:GLXY)
Galaxy Digital tumbled by 20.9 percent week-on-week as investors sold off positions following an upsized public offering of 31.6 million shares.
In a statement, Galaxy Digital (NASDAQ:GLXY) said that it would offer 26.4 million class A common shares, while certain stockholders will sell some 5.2 million shares, both at a price of $19 apiece.
According to the company, it intends to use the net proceeds to purchase newly issued limited partnership units from its operating subsidiary, Galaxy Digital Holdings LP, and finance the latter’s expansion of artificial intelligence and high-performance computing infrastructure at its Helios data center campus in Texas.
Galaxy Digital Inc. (NASDAQ:GLXY) is one of the leading companies in digital assets and data center infrastructure, as well as solutions in finance and artificial intelligence.
The company is headquartered in New York City, with offices across North America, Europe, the Middle East, and Asia.
2. The Gap, Inc. (NYSE:GAP)
Gap lost as much as 21.6 percent in just a week’s trading as investors disposed of shares following its cautious outlook for the rest of the year.
In its earnings release, The Gap, Inc. (NYSE:GAP) said it expects to book between $250 million and $300 million of incremental costs if President Donald Trump’s tariff rates of 30 percent on China and 10 percent on other countries remain.
“The company currently has strategies to mitigate more than half of that amount. After considering these mitigation strategies, the company estimates a remaining net impact of about $100 million to $150 million to fiscal 2025 operating income, primarily weighted to the back half of the year,” it underscored.
Excluding the impact of tariffs, The Gap, Inc. (NYSE:GAP) said it was expecting to post a 1 to 2 percent growth in net sales for the full year 2025, with operating income between 8 and 10 percent. The second quarter, however, is expected to remain flat year-on-year.
1. Summit Therapeutics Inc. (NASDAQ:SMMT)
Summit Therapeutics fell by 29.5 percent week-on-week as investors had hoped for more encouraging results from the first trial of its Phase 3 study of Ivonescimab.
Summit Therapeutics Inc. (NASDAQ:SMMT) released initial results of the study last week. While it was not at all bad news, investors appeared to have been discouraged by the lack of concrete results, specifically on survival rates.
In a statement, Summit Therapeutics Inc. (NASDAQ:SMMT) said that the trial met the progression-free survival primary endpoint and showed a positive trend in the overall survival. It logged a hazard ratio of only 0.52.
On the other hand, Ivonescimab, in combination with chemotherapy, showed a positive trend in the overall survival but did not achieve a statistically significant benefit. Summit Therapeutics Inc. (NASDAQ:SMMT) said it had a hazard ratio of 0.79.
In the first quarter, Summit Therapeutics Inc. (NASDAQ:SMMT) widened its net loss by 44.6 percent to $62.9 million from $43.5 million in the same period last year, as operating expenses picked up by 57.5 percent to $66.8 million from $42.4 million year-on-year.
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