10 Biggest Losers of This Week

1. Terawulf Inc. (WULF)

Terawulf (WULF) became the biggest loser in this week’s trading, booking a 23.28-percent decline at $6.23 apiece from the $8.12 at market open last Wednesday.

According to analysts, investors sold off on Terawulf’s shares following news that it was struggling to grapple with increasing Bitcoin mining costs.

The sharp decline followed growing concerns over rising Bitcoin mining costs, which have significantly impacted the company’s financial performance. In its recent filing, TeraWulf reported a loss of $0.06 per share in the third quarter of the year, worse than the expected loss of $0.03 per share.

On Monday, December 23, TeraWulf announced that AI and cloud provider Core42 would lease the infrastructure at its Lake Mariner facility in upstate New York. The announcement coincided with a 12 percent drop in TeraWulf’s share price, reflecting ongoing investor concerns.

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 timeframe. 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.