10 Firms Mirror Broader Market Downturn Ahead of 2025

Ten companies mirrored a wider market downturn on Monday, as investors repositioned their portfolios in preparation for 2025.

On Monday, the Dow shed 0.97 percent or 418 points, while the S&P’s broader index decreased 0.95 percent or 56.48 points. The tech heavy Nasdaq registered the biggest decline, down 1.19 percent or 235.24 points.

In this article, let’s look at why some of the relatively larger-cap companies declined and what dragged down the performance of their shares.

Stock market data. Photo by Jakub Zerdzicki on Pexels

10. Joby Aviation, Inc. (NYSE:JOBY)

Shares of Joby Aviation, Inc. (NYSE:JOBY) on Monday registered a 6.05-percent decline to finish at $8.39 apiece, primarily due to profit-taking following Friday’s rally. In the past five trading days, shares in the company registered an 8.33-percent increase, while 30-day trading marked a 3.45-percent rally.

Despite the decline, prospects for the company remained strong as the company takes the front seat of innovation with its flying taxis, especially with the recent release of the Federal Aviation Administration’s powered-lift pilot certification and operation which will pave the way for the widespread use of air taxis.

According to Joby, it plans to conduct its first initial flight for its flying taxis in Dubai in the first half of 2025, with full commercial operations targeted in the second half of next year.

9. D-Wave Quantum Inc. (NYSE:QBTS)

Shares in D-Wave Quantum Inc. (NYSE:QBTS) decreased by 6.16 percent on Monday to end at $9.30 apiece, as investors sold off positions while waiting for further catalysts to bolster trading appetite.

Despite the decline, the company’s current valuation still marked a 16.32-percent increase in the past five days and an impressive 237-percent jump in the past 30 days, bolstered by quantum advancements led by Google’s Willow chips and Amazon’s Quantum Embark.

Analysts believe that prospects for the company remained robust especially with the quantum computing sector expected to be at the forefront of technological advancements, particularly AI, over the next few years.

US lawmakers also announced support for quantum computing development, recently promising $2.7 billion in government funding to supercharge quantum innovation across computing, sensing, and communications.