Wall Street’s major indices finished in the green territory anew on Wednesday as worries about tariff policies and the Federal Reserve’s independence tapered off following President Donald Trump’s assurance that he had no intentions of ousting Jerome Powell.
The Nasdaq surged by 2.5 percent, the S&P 500 rose by 1.67 percent, while the Dow Jones increased by 1.07 percent.
Ten companies, on the other hand, led the highest declines, booking modest losses during the trading session.
In this article, we have identified Wednesday’s 10 worst-performing stocks and detailed the reasons behind their lagging performance.
To come up with the list, we considered only the stocks with more than $2 billion in market capitalization and $5 million in trading volume
A laptop and a computer monitor display a detailed stock market technical analysis chart. Photo by Jakub Zerdzicki on Pexels
10. IAMGOLD Corporation (NYSE:IAG)
IAMGOLD extended its losing streak for a fourth straight day on Wednesday, shedding another 5.5 percent to finish at $7.22 apiece as investors continued to sell off shares in the company in line with the decline in spot prices of gold.
As of 4:46 PM EDT on Wednesday, gold spot prices are down by 2.73 percent at $3,288.44 per ounce.
Additionally, investors appeared to have repositioned portfolios ahead of the company’s first-quarter earnings release on May 6.
IAG is a leading gold producer with assets across Canada and West Africa. The company fully owns the Westwood project in Quebec, holds a 60 percent stake in the Côté Gold project in Ontario, and controls 90 percent of Essakane in Burkina Faso.
For this year, it targets gold production to hit between 735,000 and 820,000 ounces, focusing on maximizing Côté Gold’s potential.
9. Harmony Gold Mining Company Limited (NYSE:HMY)
Harmony Gold dropped its share prices for a second day, shedding 5.76 percent to finish at $16.03 apiece as investors continued to sell off positions amid the drop in spot prices of gold.
As of 4:46 PM EDT on Wednesday, gold spot prices were down by 2.73 percent at $3,288.44 per ounce.
In recent news, Harmony Gold Mining Company Limited (NYSE:HMY) earned a higher price target of ZAR 295 from ZAR 205 previously, while keeping a hold rating on the shares.
Earlier this year, the company said that its net income in the first semester grew by 33 percent to R7.9 billion from R5.96 billion in the same period a year earlier, as revenues rose by 18 percent to R37.1 billion from R31.4 billion, with gold revenues contributing to total revenue growth, increasing 19 percent to R35.4 million from R29.7 million.
8. Stellantis N.V. (NYSE:STLA)
Stellantis dropped its share prices by 5.89 percent to close at $8.94 apiece as investor sentiment was dampened by news that it recalled 49,000 units of Alfa Romeos and Dodges amid rearview camera issues.
According to a report by Autoblog citing documents released by the National Highway Traffic Safety Administration, STLA recalled 49,000 vehicles due to a defect that makes them noncompliant with a federal safety standard.
Specifically, 48,494 of the units were from Alfa Romeo Tonale crossover SUV, while the remaining were for Dodge’s Hornet.
According to the report, some Tonales and Hornets may have been built with a defect that could result in rearview images not displaying in the vehicles’ screens when shifted into reverse.
“Suspect vehicles have cold soldering on a voltage regulator and/or a software defect within the microprocessor which may result in the vehicle not displaying the rearview image,” STLA said in a statement.
7. AngloGold Ashanti plc (NYSE:AU)
AngloGold saw its share prices drop by 5.96 percent on Wednesday to finish at $40.57 each in line with lower gold prices, as investor funds flocked to other higher-yielding assets.
As of 4:46 PM EDT on Wednesday, gold spot prices were down by 2.73 percent at $3,288.44 per ounce.
In recent news, AU officially inked a model agreement with the Egyptian Mineral Resources Authority (EMRA) to exploit gold ore and associated minerals in various areas in the eastern desert of Egypt.
According to Karim Badawi, Egypt’s Minister of Petroleum and Mineral Resources, the deal marked the new beginning for the mining sector and will open horizons for other international players to bolster mining in gold and other minerals.
AU is a global gold mining company with a diverse, high-quality portfolio of operations, projects, and exploration activities in 11 countries.
Apart from Egypt, its portfolio includes operations in Argentina, Australia, Brazil, the Democratic Republic of the Congo (DRC), Ghana, Guinea, and Tanzania, as well as greenfield projects in Colombia, Côte d’Ivoire and the US.
It also conducts greenfield exploration activities in Argentina, Australia, Brazil, Côte d’Ivoire, Egypt, Tanzania, and the US.
6. Baker Hughes Company (NASDAQ:BKR)
Baker Hughes saw its share price decline by 6.44 percent on Wednesday to end at $35.89 each as investor sentiment was weighed down by the company’s dismal earnings performance and cautious business outlook for the rest of the year.
In the first quarter of the year, BKR saw net income drop by 12 percent to $402 million from $455 million in the same period a year earlier, while revenues ended flat at $6.4 billion.
Looking ahead, the company tempered its outlook for the year amid macroeconomic challenges brought about by uncertainties in trade policies.
“We believe Baker Hughes is well-positioned to navigate near-term challenges and deliver sustainable growth in shareholder value,” said BKR Chairman and Chief Executive Officer Lorenzo Simonelli.
5. Otis Worldwide Corporation (NYSE:OTIS)
Otis Worldwide dropped its share prices by 6.72 percent on Wednesday to end at $92.30 apiece as investors sold off positions following the company’s dismal earnings performance in the first quarter of the year.
In a statement, OTIS said net income fell by 31 percent to $243 million from $353 million in the same period a year earlier, while net sales dipped by 3 percent to $3.35 billion from $3.437 billion year-on-year, primarily due to new equipment in China.
In the same announcement, OTIS also revised its full-year 2025 outlook, with net sales now expected to increase by 3 to 4 percent to a range of $14.6 billion to $14.8 billion year-on-year.
OTIS is one of the leading manufacturers of elevators and escalators, with 2.4 million customer units worldwide.
4. Sportradar Group AG (NASDAQ:SRAD)
Sportradar dropped its share prices by 7.69 percent on Wednesday to end at $23.11 apiece following the release of its preliminary earnings results for the first quarter of the year.
In a statement, SRAD said it expects to report revenues between €307 million and €311 million and net income from €20 million to €24 million.
The preliminary data is based on the company’s internal figures and has yet to be audited by its independent accounting firm.
SRAD said official results will be released on May 12, 2025.
In recent news, SRAD announced that its affiliates were planning to sell up to 23 million shares in the company.
Concurrently, the company is repurchasing up to 3 million shares under its existing $200-million share repurchase program. Goldman Sachs and JP Morgan were tapped as the joint bookrunners for the offer.
3. Webull Corporation (NASDAQ:BULL)
Webull Corp. dropped for a sixth straight day on Wednesday, losing 8.13 percent to close at $21.57 apiece as investors continued to sell off positions following a pessimistic outlook from a market analyst.
In the April 17 episode of Mad Money, host and former hedge fund manager Jim Cramer said that BULL is an “absolutely no.”
“Webull is missing one word after bull. I’m going to say absolutely no to that one,” he said.
BULL is a financial technology services company that provides a trading platform with features such as market data, investment tools, investor education, and access to wealth management products.
Since its launch date in 2018, the company has already expanded to 15 regions across Asia Pacific, Europe, and Latin America.
2. Enphase Energy, Inc. (NASDAQ:ENPH)
Enphase Energy saw its share prices fall by 15.65 percent on Wednesday to close at $45.07 apiece following announcements from its chief executive that the company would absorb most of the impact of the Trump administration’s tariffs on Chinese imports.
During the company’s earnings call, ENPH CEO Badri Kothandaraman said that although the company can raise its battery prices between 6 and 8 percent this year, it plans to bear the brunt of steep duties from China, which accounts for up to 95 percent of its global battery cell supply.
“We are absorbing the impact because we think we can decouple this effect in two to three quarters,” ENPH CEO Badri Kothandaraman said.
Following the call, RBC Capital Markets lowered its price target for ENPH to $54 from $59 previously, while maintaining a Sector Perform rating on the stock.
1. WeRide Inc. (NASDAQ:WRD)
WeRide snapped a two-day winning streak on Wednesday, losing 16.95 percent to end at $7.30 apiece as investors sold off positions following Pony AI’s announcement of its robotaxi lineup during the Shanghai International Automobile Industry Exhibition.
The announcement spelled bad news for the company, having earned another competitor in the robotaxi industry.
WRD was one of the companies that chip giant Nvidia Corp. is heavily invested in. For its part, WRD uses NVDA’s advanced graphic processors and AI software to power its vehicles.
WRD is a global leader in autonomous driving technology, with a presence in over 30 cities across 10 countries. A pioneer in the large-scale commercial deployment of autonomous driving, the company offers a portfolio of five core products, including Robotaxi.
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