10 Stocks Battered by Bearish Outlooks

1. Asana Inc. (NYSE:ASAN)

Asana nosedived by 24.22 percent on Tuesday to end at $12.64 each as investors sold off positions following the resignation of its chief executive officer, and a weak outlook guidance for fiscal year 2026.

According to the company, its co-founder and CEO Dustin Moskovitz decided that he will step down from his post as soon as his replacement is named. He, however, will continue to be a member of the board and retain his shareholdings in the company.

For the first quarter of the fiscal year 2026, ASAN expects adjusted earnings per share of $0.02 on revenues of $184.5 million to $186.5 million.

The revenue outlook fell short of the $191 million as expected by analysts.

Meanwhile, ASAN said it also expects revenue of $782 million to $790 million for the full year, short of the $803.5 million analysts had been expecting.

While we acknowledge the potential of ASAN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than ASAN but 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.