Why Terawulf Inc. (WULF) Is Crashing?

We recently published a list of 10 Companies Reflect Market Decline. In this article, we are going to take a look at where Terawulf Inc. (NASDAQ:WULF) stands against other companies that reflect market decline.

The stock market was lackluster on Thursday, with Wall Street’s main indices ending the day with marginal declines.

The Dow Jones Industrial Average dipped by 0.16 percent, the S&P 500 shed 0.21 percent, and the Nasdaq Composite declined by 0.89 percent.

Ten companies mirrored the decline on Wall Street over a series of catalysts including uncertain government policies and disappointing earnings results.

Let’s take a closer look at the worst performers and explore the factors behind their declines.

To come up with Thursday’s top losers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

Terawulf Inc. (NASDAQ:WULF)

Terawulf Inc.’s (NASDAQ:WULF) shares declined by 5.34 percent on Thursday to close at $5.85 apiece as investors resorted to profit-taking following a nearly 11 percent gain from the previous trading.

The decline was also in line with the drop in Bitcoin prices which, at the time of writing, was lower by 0.46 percent at $99,981 apiece.

In other news, investors are in a wait-and-see mode for more updates on the cryptocurrency industry under the incoming Trump administration. A strong crypto market was initially anticipated due to President-elect Donald Trump’s pro-cryptocurrency stance.

The industry is also hoping for a potential easing of regulatory crackdown, particularly with the reappointment of Paul Atkins to lead the Securities and Exchange Commission. His return could signal a shift in the regulatory landscape, potentially benefiting the crypto market.

Overall, WULF ranks 8th on our list of companies that reflect market decline. While we acknowledge the potential of WULF as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than WULF but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.