We recently published a list of Why These 10 Companies Were Heavily Sold Down. In this article, we are going to take a look at where Transocean Ltd. (NYSE:RIG) stands against other companies that were heavily sold down.
Wall Street’s main indices finished stronger on Tuesday, buoyed by the influx of more corporate earnings results.
The Dow Jones grew by 0.75 percent, the S&P 500 rose by 0.58 percent, and the Nasdaq was up by 0.55 percent.
Despite the wider market optimism, 10 companies managed to register declines, predominantly due to investors exercising caution coupled with companies’ dismal earnings performance during the past quarter.
In this article, we have identified Tuesday’s 10 worst-performing stocks and detailed the reasons behind their drop.
To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume.
An aerial view of an oil rig with drillers in hard hats working on the platform.
Transocean Ltd. (NYSE:RIG)
Transocean Ltd. saw its share prices drop by 4.76 percent on Tuesday to finish at $2.2 apiece after kicking the year off with dismal first-quarter earnings performance.
In its latest earnings release, Transocean Ltd. (NYSE:RIG) said it swung to a net loss of $79 million from a net income of $98 million in the same period a year earlier, despite contract drilling revenues improving by 18.7 percent to $906 million from $763 million year-on-year.
Costs and expenses were higher by 11 percent at $844 million versus the $760 million in the same period a year earlier.
“While uncertain macroeconomic conditions have resulted in near-term market volatility, including commodity prices, Transocean is very well-positioned to navigate this evolving landscape. In addition to continuing to deliver strong operating performance across our highly contracted fleet, we remain engaged in constructive conversations with our customers on opportunities several years in the future,” said Transocean Ltd. (NYSE:RIG) Chief Executive Officer Jeremy Thigpen.
Overall, RIG ranks 9th on our list of companies that were heavily sold down. While we acknowledge the potential of RIG 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. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than RIG but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
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