10 Firms Mirror Wall Street Decline

Wall Street’s main indices suffered a bloodbath on Tuesday, as investors shifted to other higher-yielding assets following better Treasury yields.

The Nasdaq Composite led the drop, losing 1.89 percent, followed by the S&P 500 declining 1.11 percent. Meanwhile, the Dow Jones dipped by 0.42 percent.

The overall market downturn dragged down the prices of these 10 companies. In this article, let’s explore the reasons behind their decline.

To come up with Tuesday’s top losers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A man in long sleeves looking at stock market data. Photo by Tima Miroshnichenko on Pexels

10. MARA Holdings Inc. (NASDAQ:MARA)

Shares in MARA Holdings dropped by 7.20 percent or $1.48 on Tuesday to close at $19.07 apiece as investors resorted to profit-taking following Monday’s gains and news that it loaned 7,377 of its Bitcoin holdings.

Investors took the news as a potential risk to the company’s portfolio, especially as it represents as much as 16.4 percent of its reserves. According to the company, the move to loan to third parties was to help generate additional income.

“There has been significant interest in MARA’s bitcoin lending program,” said MARA Holdings vice president for investor relations Robert Samuels on X. “It focuses on short-term arrangements with well-established third parties. It generates a modest single-digit yield. It has been active throughout 2024. The long-term objective is to generate sufficient yield to offset operating expenses.”

9. TAL Education Group (NYSE:TAL)

Shares of TAL Education dropped for a second day on Tuesday, losing 7.28 percent or $0.71 points to close at $9.04 apiece over the lack of catalysts to spark buying appetite.

Despite the decline, prospects for the company remained strong with Zack Research expecting the company to post quarterly earnings of $0.04 per share in its upcoming report, representing a more than 200 percent increase year-on-year. Meanwhile, revenues are expected to settle at $549.71 million, up 47.2 percent from the same period last year.

TAL Education said it continuously refines and expands its learning programs to deliver high-quality educational experiences. The company’s Peiyou small-class offerings, which have been a significant driver of revenue, are being enhanced through standardized lecturing approaches and interactive, student-centric learning experiences.