10 Stocks Nosedive, Defying Broader Optimism

8. Terawulf Inc. (NASDAQ:WULF)

Terawulf Inc.’s (WULF) shares dropped for a second day on Tuesday as investors repositioned their portfolios amid the lack of any statements from President Donald Trump on his plans for the cryptocurrency industry.

In recent months, Trump made several promises to the cryptocurrency industry, including releasing a potential executive order to make cryptocurrency a national priority.

However, Monday did not hear any mention of cryptocurrencies at all, leaving the industry disappointed. Many had hoped the crypto-friendly president would drive a transformative shift in US policies toward the volatile asset class, but his silence dashed such expectations.

Investor pessimism both dampened prices of Bitcoin and share prices of cryptocurrency miners. As of this writing, Bitcoin’s prices were already down by 0.39 percent to close at $105,785 apiece.