Uncertainty around tariffs and macroeconomic conditions has dented investor confidence, resulting in stock prices falling. While some stocks have come under pressure due to the above two reasons, others have simply followed the market direction or have dipped for company-specific reasons.
Regardless of the reasons for stocks going down, falling stocks provide an opportunity for fresh investors to get in at good prices. Once the risks subside, these stocks usually recover quickly as well. We decided to uncover these stocks and see if it makes sense to put money in them to take advantage of the ongoing market turmoil.
To come up with our list of top 20 stocks falling with unusual volume, we looked at stocks over $300 million in market cap, their one-week performance, and used relative volume to detect the unusual volume activity.
Relative volume compares the daily volume to the three-month average trading volume of the stock, making it easy to detect spikes in volume. These spikes usually signal something important is happening, which, when combined with falling prices, becomes a red flag that investors can’t ignore.
20. Elevance Health, Inc. (NYSE:ELV)
Elevance Health, Inc. is a health benefits company. The company operates through Health Benefits, Carelon Services, CarelonRx, and Corporate & Other segments. It provides a variety of health services and plans to Medicare, individual, FEP, Medicaid, employer group risk-based and fee-based, and BlueCard members. The company’s stock is down 2.71% on a relative volume of 2.09.
The reason for this lackluster performance is a policy risk related to Medicaid. Recently, Baird’s analyst Michael Ha downgraded the stock from Outperform to Neutral. The firm also adjusted its price target downward from $625 to $529.
Following the state Gov. Sarah Huckabee Sanders’ signing a law banning pharmacy benefit managers (PBMs) from operating or owning pharmacies, ELV announced plans to close over 20 pharmacies in Arkansas. This has spooked some investors, but things aren’t as bad as they look for the company.
Elevance provided a stable full-year outlook at its recent earnings. As per the guidance, it expects its Medicare Advantage membership to hit somewhere between 2.2 million and 2.25 million members in 2025. Its projected full-year non-GAAP EPS is $34.5 at the midpoint with a non-GAAP net income of $11.97/share for Q1 2025. The stock continues to face pressure regardless of the positive outlook, but that’s precisely what makes it a good buying opportunity.
19. Zimmer Biomet Holdings, Inc. (NYSE:ZBH)
Zimmer Biomet Holdings, Inc. is a medical technology company. It manufactures, markets, and designs orthopedic reconstructive products. The company provides bone cement, technology and data, and surgical products. It serves neurosurgeons, stocking distributors, orthopedic surgeons, healthcare dealers, hospitals, and other specialists.
The medical firm’s stock is down 4.24% in a week on a relative volume of 2.14. The stock has been tumbling since the start of the month due to tariff fears, but the market seems to have overreacted. Earlier this week, Barclays pointed out ZBH as one of the least affected stocks from Trump’s tariffs. News on other fronts has also been positive.
The U.S. FDA cleared the company’s Persona Revision SoluTion Femur last month. This is a new knee implant component designed for patients with metal sensitivities. According to ZBH, Persona Revision SoluTion Femur is anticipated to launch in the U.S. in Q3 2025.
The firm’s president, Joe Urban, mentioned:
“We are pleased to expand our proprietary surface-hardening technology into the revision knee space with FDA clearance of the Persona Revision SoluTion Femur, the first metal alternative option for those with certain metal sensitivities.”
Based on the company’s provided outlook, it plans to introduce over 50 new products in the next 3 years. Anticipated constant currency revenue growth is in the range of 3% to 5%. Management predicts an improved margin and revenue in the latter half of the year. This growth trajectory is expected to be well complemented by operational improvements and new product ramp-ups, making the current dip attractive.
18. Novo Nordisk A/S (NYSE:NVO)
Novo Nordisk A/S is the manufacturer and distributor of pharma products, though the company is mainly known for its weight loss drugs Wegovy and Ozempic. These drugs continue to be the source of volatility in the stock, with the most recent example seen earlier this month.
Donald Trump’s government finalised some major decisions on medical care for older Americans, and weight loss drugs did not receive a favorable ruling. This lack of coverage caused a dip in the share prices of major weight loss drug developers, including NVO.
Meanwhile, the company has no intention to slow down on its weight loss drug ambitions. A few days after the above bad news, it announced an investment of just over one billion dollars in Brazil in a bid to boost the production of both Wegovy and Ozempic. Brazil is a major manufacturing destination for the company, which exports its products to over 70 countries from the South American nation.
The stock is down 5.11% in a week on a relative volume of 3.72. A downtrend on high volumes suggests the price has room to drop further, so investors might be better off waiting on the sidelines before initiating a position in the stock.
17. Snap-on Incorporated (NYSE:SNA)
Snap-on Incorporated is a manufacturer and provider of equipment, repair information, systems solutions, diagnostics, and tools for professional users. The company operates in Snap-on Tools Group, Financial Services, Commercial & Industrial Group, and Repair Systems & Information Group segments. The stock is down 5.25% in a week on a relative volume of 4.33.
Analysts at Longbow Research upgraded the stock at the end of the last month from Neutral to Buy. The Research firm expressed confidence in SNA’s favorable macroeconomic conditions, strong franchise, and growth potential. Key drivers behind this upgrade were automotive trends, strong core business, manufacturing efficiency and high margin growth, and European recovery. As a result of this upgrade, the company’s shares surged 2.3%.
A few days ago, the firm reported its latest quarter results, delivering a 3.5% decrease in net sales from the previous year. Sales went down by $13.9 million due to unfavorable foreign currency exchange. Organic sales also declined by 2.3%. Gross margin improved slightly, but as a result of the weak earnings, the firm’s share price significantly dropped.
Driven by increasing household spending on car repairs and an average vehicle age of 12.6 years, management stays optimistic about the vehicle repair market. The company plans to prioritize innovative, quick-payback tools that meet technician needs and can help the company stay relevant in the existing market trends.
16. Covenant Logistics Group, Inc. (NYSE:CVLG)
Covenant Logistics Group, Inc. operates as a logistics and transportation services provider. The firm operates in Managed Freight, Expedited, Warehousing, and Dedicated segments. It serves traditional truckload customers and transportation companies. The stock is down 5.97% in a week on a relative volume of 2.03.
The company’s stock has had a disappointing 6 months after registering 5 years of healthy but volatile stock performance. Now the management needs to prove itself again, something investors aren’t willing to bet on, hence the stock falling on healthy volumes.
CVLG has been unable to significantly improve its EPS over the last 4 quarters. The YoY growth has been negative during this time, hence the pessimism. While the share price chart over the past 5 years looks fine, the free cash flow margins paint an opposite picture, and that is what investors want to see changing.
From a peak of nearly 30% in 2021 to negative FCF margins late last year, the management has failed to deliver the cash flow investors expect. The last two quarters have shown an uptick, and the margins are back into positive territory again. However, it is quite likely investors want to see these margins reach historic levels again before they consider buying the stock.
15. Robert Half Inc. (NYSE:RHI)
Robert Half Inc. operates as a talent solutions and business consulting services provider. It operates in Contract Talent Solutions, Protiviti, and Permanent Placement Talent Solutions segments. The stock is down 6.35% in a week on a relative volume of 2.01.
The stock is struggling leading up to the Q2 earnings. The company predicted an 8% to 10% YoY growth. While a decline in margins in the first quarter is the norm, all eyes will be on the size of the decline. Back in January, there was still optimism that Donald Trump would spur rate cuts. RHI management boasted about the strength of the small businesses to point towards a good 2025.
All that optimism has evaporated now as small businesses are the most likely to suffer in the case of a recession. The stock’s 37% YTD decline, the majority of which came after the earnings report in January, is raising question marks over the company’s prospects as well as its ability to maintain a high dividend yield.
14. Camping World Holdings, Inc. (NYSE:CWH)
Camping World Holdings deals in recreational vehicles and related products. It operates in two segments: RV and Outdoor Retail, and Good Sam Services and Plans. The company also offers roadside assistance plans, vehicle service contracts, travel protection, and insurance. The firm’s stock is down 7.19% in a week on a relative volume of 2.02.
Recreational consumer spending is likely to suffer if a recession were to materialize. CWH stock has almost halved in value this year alone, pricing in that risk. To add to that, the company’s balance sheet isn’t exactly in a healthy state. The company has a tough choice to make: sacrifice its balance sheet to deliver during tough times in a competitive and cyclical industry? Or lay low and protect its finances till things get better?
The market, unfortunately, does not forgive companies that find themselves in such a scenario, and CWH is no exception. Moreover, the company’s pricing power is weak, and if it fails to increase its prices to adjust to the inflation that is about to hit, things could get much worse. Would investors really want to risk their money in CWH in such a scenario?
13. Yum China Holdings, Inc. (NYSE:YUMC)
Yum China Holdings, Inc. operates, franchises, and owns restaurants in the People’s Republic of China. It operates in Pizza Hut, KFC, and All Other segments. The company operates restaurants under the Lavazza, KFC, Taco Bell, Little Sheep, Pizza Hut, and Huang Ji Huang concepts. The stock is down 7.70% in a week on a relative volume of 2.04.
The company’s 2025 plans are interesting. It plans to open 1,600 to 1,800 new stores, aiming for a total of 20,000 stores by the end of 2026. This expansion strategy will target smaller cities and strategic locations, utilizing the success of KFC’s small-town mini model and Pizza Hut’s WOW formats. Commodity prices are anticipated to remain reasonable. However, the company is expected to face headwinds from an increasing delivery mix, wage inflation, and tariffs.
The firm is expected to face challenges due to the potential trade war with the US. As China relies heavily on the US market, with over 13% of exports in 2024 to the US, the trade war could impact different industries, government revenues, and the government’s ability to maintain fiscal stimulus measures. YUMC is no different, so investors would need to track the progress on tariffs if they want to initiate a position in the stock.
12. Alignment Healthcare, Inc. (NASDAQ:ALHC)
Alignment Healthcare, Inc. is a consumer-centric healthcare platform that provides a customized healthcare experience to fulfill the requirements of seniors. It offers its personalized healthcare through Medicare Advantage plans. The company’s stock is down 7.79% in a week on a relative volume of 2.34.
A few days ago, Baird analyst Michael Ha recommended the stock as a top pick. He also upgraded the firm with an Outperform rating and a raised price target of $22 from $17. Ha believes that due to the company’s domestic Medicare Advantage and prescription drug plan focus, it is protected from potential tariff effects.
He also highlighted potential headwinds:
“We expect companies to outperform 1Q, but we do not expect guidance raises as we believe companies will maintain 2025G conservatism/cushion given potential Part D and macro headwinds that may evolve later this year.”
Despite rapid growth over the past few years, Alignment Healthcare still generates substantial net losses. In 2024, the firm recorded a net loss of $128 million. It managed to improve its operating cash flows in the last three years, going from negative to positive. However, the company is still in the early stages of attaining consistent and long-term profitability.
11. Angi Inc. (NASDAQ:ANGI)
Angi Inc. links consumers and home professionals. It operates in Services, Ads and Leads, and International segments. The company operates under different brands including HomeAdvisor, Handy, and Angi. The stock is down 8.23% in a week on a relative volume of 2.04.
Last week, the company’s stock was downgraded by RBC Capital. The firm lowered the price target significantly from $27.5 to $17. The reason for the downgrade was a weaker macro environment resulting in softer consumer sentiment, which is expected to hit small and medium-sized businesses hard.
The above news worsened the sentiments, which were already quite low after the successful spin-off of IAC’s stake in the company earlier in the month. The company has improved its margins and platform usage statistics look attractive, but until the company solves the problem of declining revenues, there is unlikely to be a change in sentiment.
10. QXO, Inc. (NYSE:QXO)
QXO is a software company that offers products like Accumatica, Sage, and similar ERP products. It also provides training, support, and other technical services related to these products. The company’s stock is down 8.02% in a week on a relative volume of 2.05.
On April 16th, QXO announced that it would raise $500 million through a stock offering. The amount will be used to help complete the Beacon Roofing Supply acquisition. While the news caused the stock to tank, the move is in line with the company’s objective of disrupting the building products distribution industry via acquisitions.
The firm aims to disrupt through the use of modern technology, combining the power of e-commerce with data analytics and logistics expertise. Prior to Beacon Roofing Supply, QXO had also offered $9.4 billion to Rexel, a French electrical distributor. That deal didn’t go through, but it gave an idea of how serious the company is in achieving dominance through acquisitions.
9. Humana Inc. (NYSE:HUM)
Humana Inc. is a medical and specialty insurance products provider. The company operates through the CenterWell and Insurance segments. It provides supplemental benefit plans and medical care to individuals. The stock is down 8.88% in a week on a relative volume of 2.15.
After falling during the last week, the stock has come back to the same level it was at earlier in the month when some positive developments caused the price to spike. The company received a favorable policy decision from the CMS for next year’s Medicare Advantage plans. However, there are still question marks on the company’s long-term ability to generate profits.
Regulatory issues and healthcare spending are two big hurdles that the company needs to figure out. Medicare and Medicaid are two major reasons for the government’s out-of-control spending, and these will likely stay under pressure during this presidential term. The long-term prospects of Humana, therefore, look bleak.
8. Acadia Healthcare Company, Inc. (NASDAQ:ACHC)
Acadia Healthcare Company, Inc. is a behavioral healthcare services provider. It operates and develops comprehensive treatment centers, acute inpatient psychiatric facilities, residential treatment centers, and specialty treatment facilities comprising residential recovery facilities and eating disorder facilities. The firm’s stock is down 11.71% in a week on a relative volume of 3.17.
The company earned an upgrade at the start of this year. KeyBanc Capital Markets analyst Matthew Gillmor upgraded the firm from Sector Weight to Overweight on the back of an expected potential momentum of its EBITDA in 2026. He assigned a price target of $70 to ACHC.
Analyst Matthew Gillmor stated:
“We think valuation can begin to normalize during 2025 (to >9x), as negative press headlines from 2024 fade and 2026 EBITDA comes into focus.”
A similar sentiment was shown by another analyst only a few days ago. Guggenheim analyst Jason Cassorla upgraded the stock to Buy with a price target of $36. He was optimistic about the long-term outlook of the industry.
The company’s valuation seems attractive regardless of the current market conditions. However, there is no meaningful short-term catalyst for the business itself, so the direction of the broader market may well determine investor returns in this case.
7. Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY)
Sun Country Airlines Holdings, Inc. operates as an air carrier company. It provides air cargo, scheduled passenger, charter air transportation, and related services. The company generates revenue through its Cargo and Passenger segments. The firm also offers maintenance, insurance, and crew services. Its stock is down 14.53% in a week on a relative volume of 2.70.
Sun Country Airlines reported its latest quarter earnings recently. As per the results, revenue growth was recorded at 6.1% year-over-year. Key growth drivers were cargo services, revenues earned from lessee payments, and higher passenger numbers. During the quarter, the company benefited from a decline in fuel prices. With more focus on charter and cargo operations, the firm grew its operating income by 52.2%.
Based on the strong earnings, management guided for another promising quarter. Aided by 7% to 9% block hour growth, the company expects total revenue to be in a range of $330 million and $340 million for Q1 2025. Operating margin is anticipated between $330 million and $340 million. Scheduled service ASMs and Cargo operations are projected to grow. However, unit revenues are forecasted to remain stable YoY.
If all is good about the company, why is the SNCY stock falling on high volume? The answer lies in the state of the economy. If a recession were to hit, air travel would significantly drop. It is already on the downtrend, dropping for the last two months. Anyone looking to invest in the company will need to keep a close eye on the economy, as it is the public’s spending power that will determine if the company can achieve its guidance.
6. Global Payments Inc. (NYSE:GPN)
Global Payments Inc. operates as a software solutions and payment technology provider for check, card, and digital-based payments. The company operates in the Issuer Solutions and Merchant Solutions segments. The firm’s stock has been falling since the start of this year. The stock is down 16.55% in a week on a relative volume of 7.15!
Global Payments announced two definitive agreements on April 17. It announced the acquisition of Worldpay from GTCR and FIS, valued at $24.25 billion, including $1.55 billion of anticipated tax assets. This acquisition positions the firm as a leading merchant solutions provider. Global Payments and Worldpay, together, will serve over 6 million customers and process approximately 94 billion transactions. The other major deal is selling its Issuer Solutions business to FIS for $13.5 billion.
Chief executive officer Cameron Bready highlighted the importance of this acquisition for the company:
“Today marks a defining day for Global Payments and a pivotal milestone in our journey to become the worldwide partner of choice for commerce solutions. The acquisition of Worldpay and divestiture of Issuer Solutions further sharpen our strategic focus and simplify Global Payments as a pure play merchant solutions business with significantly expanded capabilities, extensive scale, greater market access and an enhanced financial profile.”
So why is GPN stock down significantly if it is firing on all cylinders? According to Bernstein analysts, the firm is exposed to recession risk while most of its peers are relatively immune. GPN mainly serves small businesses. In hard economic times, these businesses fail in large numbers. This risk is killing the short-term returns for investors, and until there is more clarity on the economy’s fate, it would be risky to take a position in this stock.
5. Plug Power Inc. (NASDAQ:PLUG)
Plug Power Inc. operates as a hydrogen fuel cell product solutions developer. It provides GenSure, GenDrive, GenCare, ProGen fuel cell engines, GenKey, and GenFuel hydrogen storage and dispensing products. The company also offers liquefaction systems, electrolyzers, cryogenic equipment, and liquid hydrogen. Its stock price hit a six-year low in the last month and just in the last week, the stock is down 19.26% on a relative volume of 2.08.
To improve financial stability, Plug Power has recently announced restructuring plans, including workforce reductions and cost reductions. The company targets to reduce annual expenses by $150 million to $200 million. In a new filing, the firm highlighted its Project Quantum Leap plan to improve cash flows, margins, and profitability.
CEO Andy Marsh mentioned:
“Despite steps taken in 2024 to shore up the company’s finances, it is clear based on market dynamics that we have to make additional strides.”
In 2024, the company reported a net loss of $2.1 billion, an increase from $1.4 billion in 2023. The firm recorded a gross margin loss of 122% for the quarter. PLUG will require an additional $600 million investment for the completion of its Department of Energy Loan Guarantee program project. Overall, 2024 was a tough year for the company, and 2025 is unlikely to be better, going by the investor sentiment.
4. ManpowerGroup Inc. (NYSE:MAN)
ManpowerGroup Inc. operates as a workforce solutions and services provider. The company offers its services under the Manpower, Experis, and Talent Solutions brands. It also provides administrative, recruitment, industrial, workforce development, and other services. The stock is down 21.04% in a week on a relative volume of 3.57.
The firm’s stock fell significantly right after the announcement of its Q1 2025 results on April 17. Revenue continues to decline, falling 5% year-over-year on a constant currency basis. In addition to revenue, both adjusted EPS and adjusted EBITA margin also declined significantly. Adjusted EPS saw a 53.4% decline YoY, along with adjusted EBITA margin contraction of 1.3% YoY. This indicates that the company’s financial stability is worsening day by day.
According to the guidance, there is no major revenue acceleration in the short term, as the management anticipates revenue to continue to decline by 3% to 7% on a constant currency basis in Q2 2025. EPS guidance shows a substantial 47% YoY decline at the midpoint. It seems 2025 is going to be another challenging year for the firm.
3. Neogen Corporation (NASDAQ:NEOG)
Neogen Corporation is the manufacturer, developer, and marketer of different products and services focused on animal and food safety. The company operates in the Animal Safety and Food Safety segments. The stock is down 22.02% in a week on a relative volume of 2.69.
Neogen missed both revenue and Non-GAAP EPS estimates in Q3. Revenue declined by 3.4% YoY while non-GAAP EPS missed by $0.02. The company lowered its Q4 2025 guidance due to the lower-than-expected third quarter results. As per the updated revenue guidance, the firm now projects Q4 revenue to be approximately $895 million. Expected capital expenditures are $100 million with adjusted EBITDA of about $195 million.
At the start of this month, NEOG announced the successful refinancing of its debt. As per the new agreement, a $250 million revolving credit facility and a $450 million term loan have a maturity date of August 2027. With the help of this new deal, the maturity date has been extended by over two and a half years.
CFO and COO of NEOG, David Naemura, said:
“The new term loan and revolving credit facility provide us with additional balance sheet flexibility, and we appreciate the support of our entire bank group throughout the process.”
2. UnitedHealth Group Incorporated (NYSE:UNH)
UnitedHealth Group Incorporated is a health care company. The firm operates in the Optum Health, Optum Rx, UnitedHealthcare, and Optum Insight segments. It offers care management, consumer-oriented health benefit plans and services, advisory consulting arrangements, pharmacy care services and programs, and others. The stock is down 23.60% in a week on a relative volume of 5.62.
Baird’s analyst, Michael Ha, recently recommended the healthcare provider as its top pick, citing its ability to withstand potential tariffs effectively. The analyst assigned an Outperform rating on the stock with a price target of $640. Analyst Michael Ha believes that due to its domestic focus on Medicare plans, the managed care firm is protected from tariff impacts.
The company also recently updated its FY2025 outlook after an earnings debacle that saw its price crash about 20%. Based on the updated guidance, UnitedHealthcare’s operating earnings are anticipated to be in the range of $16 billion to $16.5 billion. Driven by higher care activity and patient mix changes. The medical care ratio is projected to be 87.5% for the full year. The firm aims to adapt its Medicare Advantage pricing and plan designs for 2026 based on the 2025 trends.
The post-earnings period is turning out to be the worst in the company’s history, but the firm continues to generate healthy numbers. With revenue up 60% over the last 5 years, and free cash flow up by a similar number, the juggernaut is moving strong. It is also well-supported by a strong dividend and a buyback program. A poor earnings caught everyone by surprise, but once the high volume selling subsides, the stock will be even attractive than it was just a week ago.
1. agilon health, Inc. (NYSE:AGL)
Agilon health, Inc. operates as a healthcare services provider for seniors. The company provides a platform that manages patients’ comprehensive healthcare needs through a subscription-based model. The company’s stock is down 27.27% in a week on a relative volume of 3.84.
All was going well when the healthcare provider received an upgrade at the start of this year. Citi’s analyst Daniel Grosslight upgraded the stock from Sell to Neutral on the back of its 2025 outlook for the U.S. Health Tech and Distribution space. Grosslight raised his price target from $1.75 to $2.25. Driven by a favorable Medicare Advantage market outlook, he believes that there is limited downside potential.
Analyst Daniel Grosslight highlighted:
“We do think there is potential that a Trump administration and CMS (likely led by Dr. Mehmet Oz) implement more Medicare Advantage-favorable policies.”
After the upgrade, the stock took off, nearly tripling in value before it crashed on high volume last week. The trigger was a downgrade by Baird, citing a lack of financial backing for the senior care sector. The firm believes that tough macroeconomic conditions, coupled with policy issues, will keep the medium-term earnings muted. The market has been re-rating the stock since, and it would be a good idea to let the dust settle before taking a position in the stock.
While we acknowledge the potential of AGL 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. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than AGL but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
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