10 Firms Suffer Amid Optimistic Market Environment

Wall Street’s main indices recovered losses on Friday, as investors repositioned portfolios while digesting the ongoing trade tensions between the world’s two largest economies.

After a battering this week, the Nasdaq finished the day up 2.06 percent; the S&P 500 rose 1.81 percent; and the Dow Jones grew 1.56 percent.

Ten companies, on the other hand, defied a wider market optimism, recording modest losses during the day. In this article, we have listed Friday’s worst performers and detailed the reasons behind their declines.

To come up with the list, we considered only the stocks with a $2 billion market capitalization and $5 million trading volume.

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10. RLX Technology Inc. (NYSE:RLX)

RLX Technology dropped its share prices for a third straight day on Friday, shedding 2.30 percent to finish at $1.7 apiece as investors resorted to profit-taking while repositioning portfolios to mitigate the risks of the ongoing market uncertainties.

RLX, an electronic cigarette maker, is underway with its global expansion. Late last year, the company said it would continue to focus on strategic global expansion and innovation to enhance shareholder value. However, with the escalating trade war globally, concerns were raised over whether the company’s expansion program remains on track.

In the fourth quarter of 2024, RLX saw net revenues surge by 56 percent to RMB813.5 million from RMB520.5 million in the same period a year earlier. However, net income dropped by 41 percent to RMB127.4 million from RMB216 million year-on-year.

Revenues for the full-year 2024 period jumped by 73 percent to RMB2.75 billion from RMB1.59 billion year-on-year, while net income rose by 4 percent to RMB564.3 million from RMB541 million.

9. GitLab Inc. (NASDAQ:GTLB)

GitLab extended losses for a second day on Friday, shedding 2.47 percent to end at $41.92 apiece as investors sold off positions following news that a hacking incident exposed personal information of some 200,000 Europcar customers.

In late March, hackers claimed that they had gained access to the GitLab repositories of Europcar.

Reports also said that the hackers tried to extort the company by threatening to publish 37GB of data, including the company’s backups and details about its cloud infrastructure and internal applications.

Last month, the company said it swung to a net income of $10.8 million for the fourth-quarter period of fiscal year 2025, reversing the $36.9 million net loss in the same period a year earlier.

Revenues, on the other hand, rose 29 percent to $211.4 million from $163.8 million year-on-year.

For the full-year period, GTLB remained at a net loss of $2.4 million, albeit 423.3 percent narrower than the $ 425.7 million in 2023.

Revenues increased by 31 percent to $759.2 million from $579.9 million.