Wall Street’s main indices bounced back on Friday, erasing the entire week’s losses, as investor hopes were fueled by news that no government shutdown is happening.
The tech-heavy Nasdaq jumped the highest on Friday, adding 2.61 percent, followed by the S&P 500 with a 2.13-percent gain, and the Dow Jones with 1.65 percent.
Ten companies, on the other hand, bucked an overall market optimism, posting modest losses during the day.
In this article, we have named the day’s worst performers and detailed the reasons behind their drop.
To come up with the list, we only considered those with $2 billion in market capitalization and $5 million in trading volume.

Source: Pexels
10. Bristol-Myers Squibb Company (NYSE:BMY)
Bristol-Myers saw its share prices drop by 2.11 percent on Friday to end at $59.01 apiece as investors sold off positions after touching a new 52-week high during the week.
On Monday, March 10, BMY announced that it was acquiring 2seventy bio for $286 million. The transaction involved the purchase of all outstanding shares at a price of $5 apiece, which represented an 88-percent premium from its closing price of $2.66 on March 7.
The news bolstered the company’s stock price to reach a new high of $63.33 on Tuesday.
The transaction is expected to be completed in the second quarter of the year, subject to customary closing conditions, including the tender of a majority of the outstanding shares of 2seventy bio’s common stock and the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
9. Uranium Energy Corp. (NYSEAMERICAN:UEC)
Uranium Energy dropped its share prices by 2.12 percent on Friday as investors remained cautious about the impact of President Donald Trump’s tariffs on imports from Canada.
UEC, one of the largest uranium producers with projects in both the United States and Canada, stands to be hurt by higher import prices and possible lower demand for uranium products as a result of the growing trade tensions between the two economies.
Albeit granting a lower 10-percent tariff on uranium products, investors resorted to sell-offs to minimize the risks of Trump’s frequent changes in US tariff policies.
Canada is currently the US’ largest uranium producer, delivering 27 percent of its total supply, followed by Australia and Kazakhstan with 22 percent of deliveries each, according to the US Energy Information Administration.
Late last month, a Canadian uranium miner and producer signaled that prices for US customers could rise by 10 percent if Trump’s tariff threats were to be implemented.
8. Abbott Laboratories (NYSE:ABT)
Abbott Laboratories declined for a fourth consecutive day on Friday, losing 2.45 percent to close at $126.71 apiece amid the pessimistic broader market that was further aggravated by news of a new trial over premature infant formula.
On Thursday, a Missouri judge ordered ABT and Reckitt Benckiser unit Mead Johnson to face another round of trials over allegations that they failed to warn a mother about the risks of their specialized baby formulas for premature infants.
The ruling came months after a court sided with the two firms, saying that they were not responsible for a young boy’s debilitating intestinal disease.
Commenting on the reopened trial, ABT and Reckitt said that they would appeal the decision.
“We are disappointed by the court’s extraordinary decision to set aside the jury’s work,” said ABT spokesperson Scott Stoffel.
7. Macy’s Inc. (NYSE:M)
Macy’s share prices declined for a second straight day on Friday, losing 2.81 percent to close at $13.08 apiece as investors sold off positions following news that it officially started its plan of closing 150 stores over the next two years following plummeting sales, coupled with a change in consumer behaviors and preferences.
The store closure was part of its “A Bold New Chapter” plan, which includes a shift to chasing wealthier shoppers with its higher-end brands, including Bloomingdale’s and Bluemercury.
As of Friday, the company’s stock price was just 3.8 percent shy of its 52-week low of $12.60.
Macy’s CEO Tony Spring said earlier that closing stores is never easy, but the locations chosen were underproductive for its so-called Bold New Chapter strategy.
For this year alone, around 66 stores are expected to shut down albeit the locations have not been disclosed. The company is currently offering closing-store promotions across various stores.
6. The GAP Inc. (NYSE:GAP)
Shares of GAP dropped by 3.03 percent on Friday, the fifth consecutive day, to end at $20.13 apiece as investors continued to dispose of positions in retail companies amid their potential risks from the ongoing trade tensions globally.
After pricing in the company’s better performance last year, the immediate sell-off showed that investors remained cautious about its business prospects despite providing an optimistic guidance for the year.
Last year, GAP saw fourth-quarter net income ended February 1, 2025, grow by 11.3 percent to $206 million from $185 million in the same period a year earlier, while net profit for the full year jumped by 68 percent to $844 million from $502 million year-on-year.
Meanwhile, revenues for the quarter dipped by 3 percent to $4.149 billion from $4.298 billion, while revenues for the full year inched up by 1.3 percent to $15.086 billion from $14.889 billion year-on-year.
5. Hesai Group Inc. (NASDAQ:HSAI)
Hesai Group dropped for a third straight day on Friday to end at $19.80 apiece as investors took profits following an all-time high while disposing of shares to mitigate risks from the ongoing trade tensions between the US and China.
Earlier this week, HSAI said it bagged a new deal with a leading European OEM, which it refused to identify, to supply advanced ultra-long-range automotive lidars for the latter’s upcoming platform, including both internal combustion engine (ICE) and electric vehicle (EV) models.
“This multi-year program will last into the next decade, marking it the largest global program for the automotive lidar industry,” it said.
Additionally, HSAI secured a new design win with China’s 5th largest electric vehicle maker for the supply of its ATX lidar, which is expected to enhance the EV’s intelligent driving systems.
4. RLX Technology Inc. (NYSE:RLX)
RLX dropped its share prices by 3.83 percent on Friday to close at $2.26 apiece as investor sentiment was dampened by its dismal earnings performance last year.
In the fourth quarter of the year, RLX said net income attributable to the company fell by 42.8 percent to RMB121.96 million from RMB213.5 million in the same period a year earlier, while revenues rose by 56 percent to RMB813.4 million from RMB520.5 million year-on-year.
For the full-year period, RLX said net income attributable to the company was up by 3.18 percent to RMB551.8 million from RMB534 million in 2023, while revenues increased by 73 percent to RMB2.748 billion from RMB1.586 billion year-on-year.
“Moving into 2025, we will prioritize innovation, compliance, and diversity in our product portfolio while navigating the industry dynamics to capture new opportunities and drive long-term success,” said RLX CEO Ying Wang.
3. Li Auto Inc. (NASDAQ:LI)
Shares of Li Auto dropped by 4.39 percent on Friday to end at $27.46 apiece as investors soured on its weak revenue outlook for the first quarter of the year.
In its latest earnings release, LI said it expects total revenues to end between 23.4 billion yuan and 24.7 billion yuan, or a decrease of 3.5 percent to 8.7 percent year-on-year. The figures were way below the 33.5 billion yuan in revenues as projected by analysts.
During the last quarter, LI saw earnings per share of 10.04 yuan versus 11.46 yuan in the previous year, while revenues grew by 6.1 percent to 44.3 billion yuan year-on-year.
Earlier this month, LI showed a sneak peek of its new vehicle model, Li i8, which would kick off a new “intelligent” series, a smart driving system promising both innovation and intelligence.
Li i8 will complement the carmaker’s existing electric SUVs under the L series and the MEGA premium MPV.
It also forms part of the LI product roadmap, where it plans to launch five range-extended electric vehicles. Apart from the i8, the company will also launch the i6, i7, and i9.
2. Under Armour Inc. (NYSE:UAA)
Under Armour dropped its share prices by 4.96 percent on Friday, a third straight day, to close at $6.7 apiece as investors sold off positions following a downgraded rating.
On Wednesday, StockNews lowered its outlook for the company to “sell” from “hold” previously.
With the recent sell-off, investors appeared to have exercised caution from the ongoing trade war between the United States and China and how it would impact the business, despite its CEO saying that China’s tariffs on US goods have little impact on the company due to its products being sourced in China.
In its latest earnings presentation, UAA’s net income for the quarter ending December 2024 fell by 99 percent to $1.2 million from the $110.75 million registered in the same period a year ago, as net revenues dropped 6 percent to $1.4 billion versus $1.49 billion year-on-year.
In the first nine months alone, UAA swung to a net loss of $133.8 million versus a $225-million net profit in the same period year-on-year as net revenues declined by 8.9 percent to $3.98 billion from $4.37 billion.
1. XPeng Inc. (NYSE:XPEV)
XPeng declined by 6.39 percent on Friday to end at $23.73 each as investors disposed of positions in the company to mitigate the risks of the ongoing trade tensions between the United States and China.
Earlier this year, XPEV announced plans to double down on its expansion program and enter 60 markets this year, albeit it remains unclear if the United States would be part of its aggressive expansion program.
“This year, we will increase to 60 and will have established more than 300 after-sales service points worldwide,” XPEV CEO He Xiaopeng said earlier.
Over the next 10 years, he said that the international markets are expected to power its sales.
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Disclosure: None. This article is originally published at Insider Monkey.