The stock market bounced back from the previous day’s losses, with all major indices finishing higher as investors cheered the central bank’s decision to keep interest rates unchanged.
On Wednesday afternoon, the Federal Reserve kept rates steady at a range of 4.25 percent to 4.5 percent, saying that it was not in a hurry to cut rates and could still “wait and see” the impacts of President Donald Trump’s tariff policies.
The Dow Jones rallied by 0.70 percent, the S&P 500 increased by 0.43 percent, and the Nasdaq grew by 0.27 percent.
Beyond the major indices, bucked a broader market optimism as investors sold off on a series of disappointing news. In this article, we name Wednesday’s 10 worst-performing stocks and detail the reasons behind their gains.
To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume.
A man in black suit holding a tablet looks at stock market data on a monitor. Photo by Tima Miroshnichenko on Pexels
10. Alphabet Inc. (NASDAQ:GOOG)
Alphabet Inc., operator of search engine giant Google, dropped its share prices by 7.51 percent to close at $152.80 apiece as investor sentiment was dampened by news that Apple Inc. was setting its sights on AI-powered search features for its Safari browser.
Speaking to the US Department of Justice’s antitrust trial against Alphabet Inc. (NASDAQ:GOOG), Eddy Cue, Apple’s senior vice president for services, said that Apple had no intention of creating its own search engine platform, but was “actively looking” to integrate AI tools into Safari.
The remarks fueled concerns that Alphabet Inc.’s (NASDAQ:GOOG) largest revenue-generating business could be dragged down by the rise of generative AI tools.
According to Cue, user inquiries into Safari had already dropped for the first time last month as they increasingly turned to large-language models for answers.
Currently, Siri only offers OpenAI, but Cue said that Apple is looking to add other models in the future, including Gemini.
9. WeRide Inc. (NASDAQ:WRD)
WeRide Inc. saw its share prices decline by 7.87 percent on Wednesday to close at $8.31 apiece as investors resorted to profit-taking following the prior day’s surge, supported by its newly clinched partnership with Uber Technologies Inc. (NYSE:UBER).
In a statement earlier this week, Uber said that it deepened its collaboration with WeRide Inc. (NASDAQ:WRD) for the expansion of robotaxi offerings in the Uber app in 15 more locations, including Europe and the Middle East.
“This expansion aligns with WeRide’s ambitious strategy for global growth—to make autonomous driving solutions more affordable and accessible to people worldwide,” said WeRide Inc. (NASDAQ:WRD) CEO Han Xu.
The two firms kicked off their partnership last year with the launch of robotaxis in Abu Dhabi, and later on, in Dubai, as they aim to expand their autonomous vehicle partnership to several new cities each year, all outside of the US and China.
8. Marvell Technology, Inc. (NASDAQ:MRVL)
Marvell Technology tumbled by 8.02 percent on Wednesday, a third straight day, to finish at $56.31 apiece as investor sentiment was dampened further by a pessimistic revenue outlook for the first quarter of fiscal year 2026.
While Marvell Technology, Inc. (NASDAQ:MRVL) affirmed the midpoint of the revenue guidance at $1.875 billion, it said it now expects a plus or minus 2 percent margin, narrower than the plus or minus 5 percent earlier.
Additionally, the company said it has postponed its investor day originally scheduled for June 10, citing the dynamic macroeconomic environment, but underscored the ongoing progress in its AI custom silicon business.
Earlier this year, Marvell Technology, Inc. (NASDAQ:MRVL) entered into a definitive agreement with Infineon Technologies AG for the sale of its automotive Ethernet business, Brightlane, for $2.5 billion. The sale was expected to generate revenues between $225 million and $250 million for fiscal year 2026.
7. Fortune Brands Innovations, Inc. (NYSE:FBIN)
Fortune Brands lost 8.79 percent of its valuation for a third straight day on Wednesday to close at $48.16 each after a disappointing earnings performance for the first quarter of the year.
In its financial statement, Fortune Brands Innovations, Inc. (NYSE:FBIN) said that net income fell by 47 percent to $51.4 million from $96.4 million in the same period last year. Revenues also dropped by 7 percent to $1.033 billion from $1.109 billion year-on-year.
Further weighing down on sentiment was the company’s lack of revenue guidance for the upcoming quarters amid the ongoing uncertainties globally.
However, it said that its teams are working on mitigating the expected impact of tariffs quickly and strategically through sourcing moves, cost-out opportunities, and strategic pricing.
“The company remains confident in its long-term strategy of focusing on categories driven by brands and innovation, with an emphasis on attractive areas of its core and acceleration in its digital strategy,” it said.
6. Upstart Holdings, Inc. (NASDAQ:UPST)
Upstart Holdings declined by 9.65 percent on Wednesday to end at $46.44 apiece as investors brushed off its strong earnings performance during the quarter after a number of investment companies reduced their price targets for its stock.
On Wednesday, Needham & Company lowered its price target for Upstart Holdings, Inc.’s (NASDAQ:UPST) stock by a whopping 35 percent to $70 from $108 previously, while maintaining its “buy” recommendation.
The new price also marked a 50-percent upside from the company’s closing price on Wednesday.
Additionally, the company received a lower price target of $69 from Piper Sandler, or 34 percent lower than its previous price target of $105. The investment firm, however, maintained its “overweight” rating on the stock.
According to Piper Sandler, the overweight rating reflected its continued confidence in Upstart Holdings, Inc.’s (NASDAQ:UPST) despite the lower price target.
During the first quarter of the year, Upstart Holdings, Inc.’s (NASDAQ:UPST) narrowed its net loss by 96 percent to $2.4 million from $64.6 million in the same period last year.
Revenues expanded by 67.7 percent to $213 million from $127 million year-on-year.
5. The GEO Group, Inc. (NYSE:GEO)
The GEO Group fell by 10.04 percent on Wednesday to end at $27.32 apiece as investors soured on its dismal earnings performance during the first quarter of the year.
In its financial statement, The GEO Group, Inc. (NYSE:GEO) said net income fell by 13.9 percent to $19.5 million from $22.67 million in the same period last year, while revenues slightly dipped to $604 million from $605 million year-on-year.
Looking ahead, the company expects higher operating expenses and capital expenditures “to position our company for future growth.” It said the move is expected to lay in during the second half of the year and normalize in 2026.
“We also remain focused on reducing our net debt, deleveraging our balance sheet, and positioning our company to explore opportunities to return capital to shareholders in the future. In 2025, we expect to reduce our total net debt by approximately $150 million to $175 million, bringing our total net debt to approximately $1.54 billion,” said The GEO Group Inc. (NYSE:GEO) Executive Chairman George Zoley.
4. Coty Inc. (NYSE:COTY)
Coty Inc. dropped its share prices by 11.61 percent on Wednesday to end at $4.57 apiece following disappointing earnings coupled with a weak outlook for the rest of the year.
In its latest earnings release, Coty Inc. (NYSE:COTY) said it swung to an attributable net loss of $405.7 million for the third quarter ending March 2025 from a net income of $3.8 million year-on-year. This pulled the company to a nine-month net loss of $299.1 million versus a $186.3 million net income in the same period a year earlier.
Net revenues for the quarter were also lower by 6 percent to $1.299 billion from $1.385 billion, while net revenues for the nine-month period dipped by 2 percent to $4.64 billion from $4.75 billion.
Looking ahead, Coty Inc. (NYSE:COTY) said it expects a high single digit decline in sales for the fourth quarter of the current fiscal year amid the continuing current category trends coupled with its ongoing interventions “to clean up the baseline of the business to prepare for a healthier [full-year] 2026.”
3. Payoneer Global Inc. (NASDAQ:PAYO)
Payoneer Global fell by 13.60 percent on Wednesday to close at $6.16 apiece after the company withdrew its previously issued full-year guidance, coupled with a mixed earnings performance in the first quarter of the year.
In its earnings release, Payoneer Global Inc. (NASDAQ:PAYO) said that it was suspending its previously issued full-year 2025 guidance given the current macroeconomic uncertainties.
“There is a broad range of potential outcomes, and as a company supporting cross-border businesses that may be negatively impacted, we face substantial risks which could impact our financial results,” Payoneer Global Inc. (NASDAQ:PAYO) Chief Financial Officer Bea Ordonez said.
In the first quarter, the company reported a 29-percent drop in net income at $20.5 million versus the $28.97 million in the same period last year.
Revenues, however, were higher by 7.9 percent at $246 million versus $228 million year-on-year.
Operating expenses also grew by 14.8 percent to $217 million from $189 million in the same comparable period.
2. Sarepta Therapeutics, Inc. (NASDAQ:SRPT)
Sarepta Therapeutics nosedived by 21.45 percent on Wednesday to end at $36.72 apiece after reporting a disappointing earnings performance in the first quarter of the year.
During the period, the company swung to a net loss of $447.5 million from a $36.1 million net income in the same period last year, despite revenues jumping by 80 percent to $744.9 million from $413.5 million year-on-year, with the increase primarily driven by a $241-million higher net product revenue from Elevidys—a gene therapy for Duchenne muscular dystrophy (DMD)—as a result of its expanded label approval in June 2024.
Looking ahead, Sarepta Therapeutics, Inc. (NASDAQ:SRPT) said it expects lower revenues for full-year 2025, at $2.3 billion to $2.6 billion versus the $2.9 billion to $3.1 billion as expected previously.
Earlier this year, Sarepta Therapeutics, Inc. (NASDAQ:SRPT) reported that a young patient succumbed to acute liver failure after receiving the Sarepta Elevidys therapy. While the risk has already been flagged on the Elevidys label, acute liver injuries leading to death have not been previously reported in clinical testing or real-world use of Elevidys.
1. Lantheus Holdings, Inc. (NASDAQ:LNTH)
Lantheus Holdings declined for a third consecutive day on Wednesday, losing 23.23 percent to finish at $80.49 each as investors soured on the company’s lower revenue guidance for the rest of the year, coupled with a disappointing earnings performance.
In a statement, Lantheus Holdings, Inc. (NASDAQ:LNTH) said it now expects revenues for full-year 2025 to end between $1.55 billion and $1.585 billion, lower than the $1.545 billion to $1.61 billion as projected previously.
Adjusted EPS was also pegged at $6.6 to $6.7 versus the $7 to $7.2 previously.
In the first quarter, Lantheus Holdings, Inc. (NASDAQ:LNTH) reported a 44.3 percent lower net income of $72.9 million versus $131.1 million in the same period last year.
Revenues also ended at $372.8 million, relatively flat from $370 million in the same comparable period.
Lantheus Holdings, Inc. (NASDAQ:LNTH) is one of the leading radiopharmaceutical-focused companies with products across three categories: radiopharmaceutical oncology, precision diagnostics, and strategic partnerships.
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