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10 Stocks Underperforming the Broader Market

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Wall Street finished with a lackluster Thursday, with all major indices ending in the red amid renewed concerns about the AI buildout after Jensen Huang resigned as Nvidia Corp.’s CEO.

The Nasdaq fell 0.39 percent, while the S&P 500 declined 0.35 percent. The Dow Jones was down 0.36 percent.

Meanwhile, 10 stocks led Thursday’s decline, losing 9 to 25 percent. In this article, we identify their names and break down the reasons behind their weak performance.

To come up with the list, we considered the stocks with more than $1 billion in market capitalization and 5 million shares in trading volume.

Photo by Tima Miroshnichenko on Pexels

10. ImmunityBio Inc. (NASDAQ:IBRX)

ImmunityBio extended its losing streak to a 4th consecutive day on Thursday, shedding 9 percent to close at $6.07 apiece, mirroring a lackluster performance in the broader market, while investors continued to digest its revenue miss in the third quarter of the year.

During the period, the biotechnology company said that it raked in total revenues of $48.84 million, a 52 percent jump from the $32.06 million in the same period last year, but missed Wall Street’s consensus estimate of $59.2 million to $61 million.

Net loss attributable to shareholders also widened by 174 percent to $184.55 million from $67.25 million year-on-year, dragged down by fair value changes related to convertible notes and common stock price, among others.

In other developments, investors were also positioning portfolios ahead of key updates as the company participates in the upcoming UBS Global Biopharma Conference and Jefferies Global Healthcare Conference in London on Monday, November 16, where it is expected to discuss updated results from its QUILT-2.005 study on its bladder cancer treatment candidate and its ongoing global expansion initiatives.

“The results from our QUILT-2.005 study bring us closer to our goal of treating bladder cancer earlier in the course of the disease,” ImmunityBio Inc. (NASDAQ:IBRX) President and CEO Richard Adcock said.

“In London, we look forward to discussing what these findings could mean for patients who have not yet received BCG, our work to expand access to ANKTIVA globally, and where we see the greatest opportunity for our immunotherapy platform,” he noted.

9. Global Payments Inc. (NYSE:GPN)

Global Payments saw its share price decline by 12.03 percent on Thursday to close at $88.18 apiece, following reports that private equity firms CD&R and GTCR have axed plans to acquire the company, weeks after announcing the exploration of a sale.

A report by Reuters citing people privy to the matter said that the two investment firms halted talks given the complexities of the deal, although it noted that a revival remained possible at a later date or if another buyer emerges.

CD&R and GTCR planned to acquire Global Payments Inc. (NYSE:GPN) for $40 billion, a year after the latter agreed to a $22.7 billion deal to acquire another payments giant, Worldpay, from GTRC and FIS while disposing of its Issuer Solutions business to FIS for $13.5 billion.

Earlier this month, Global Payments Inc. reported a 56 percent decline in its net income in the third quarter of the year to $280.9 million from $635.2 million in the same period last year. Revenues increased by 63 percent to $3.3 billion from $2.02 billion.

In other news, Global Payments Inc. announced that its board of directors has approved the distribution of $0.25 in dividends to all shareholders on record as of December 10, 2026. Payments will be made on December 24.

8. Archer Aviation Inc. (NYSE:ACHR)

Archer Aviation fell by 10.91 percent on Thursday to close at $4.33 apiece as investor sentiment was dampened by a series of price target cuts from analysts following the results of its third-quarter earnings performance.

In separate market notes earlier in the week, Needham and Deutsche Bank both reduced their price targets for Archer Aviation Inc. (NYSE:ACHR) to $7 and $10, respectively, from $9 and $12, despite maintaining a buy recommendation.

Needham, for its part, said that the reduction was based on a flatter early trajectory given the minimal technical progress with the Federal Aviation Administration, which is expected to modestly increase cash needs.

In the third quarter of the year, Archer Aviation Inc. widened its net loss by 111.4 percent to $274.6 million from $129.9 million in the same period last year. It also raked in revenues of $5.1 million, versus none in the comparable period.

In other news, the listed aviation firm announced a multi-year partnership with Formula 1 for the potential integration of eVTOL air taxi services at Grand Prix events with the goal of flying VIPs and fans to and from Grand Prix circuits in minutes aboard its Midnight aircraft.

The partnership will explore opportunities such as dedicated air taxi drop-off and pick-up locations at circuits and the inclusion of air taxi services as part of Formula 1’s hospitality and ticketing offerings.

Archer Aviation Inc. said that the initiative forms part of their goal to provide an alternative mode of transportation by skipping traffic between major airports, business hubs, and other key destinations to and from Grand Prix events.

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