Why Celanese Corporation (CE) Plummeted on Wednesday

We recently compiled a list of the 10 Stocks Plummet on Wednesday. In this article, we are going to take a look at where Celanese Corporation (NYSE:CE) stands against the other stocks.

The stock market ended firmer on Wednesday, with all major indices finishing in the green territory as investors weighed news of President Donald Trump’s imposition of a new round of tariffs while digesting minutes of the Federal Reserve.

The Dow Jones rose by 0.16 percent, the S&P 500 increased by 0.24 percent, while the tech-heavy Nasdaq eked out a 0.07 percent gain.

Ten companies bucked a broader market optimism, posting heavy losses, mostly due to disappointing earnings performance last year.

To come up with Wednesday’s worst performers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.

A laboratory full of vials, tubes and Bunsen burners, with a scientist in the center examining a chemical.

Celanese Corporation (NYSE:CE)

Celanese Corporation (NYSE:CE) fell to a new all-time low on Wednesday as investors unloaded portfolios following a dismal earnings performance last year.

At intra-day trading, Celanese Corporation (NYSE:CE) dropped to its lowest of $52.97 apiece before gaining momentum to end just 21.46 percent lower at $54.91 each.

In the fourth quarter of 2024, Celanese Corporation (NYSE:CE) swung to a net loss of $1.9 billion from a $701 million net income in the same period a year earlier, as net sales dipped 7.4 percent to $2.37 billion from $2.56 billion.

The company also booked a net loss of $1.5 billion in full-year 2024, reversing a $1.96-billion net income in 2023, as net sales dipped 6 percent to $10.28 billion from $10.94 billion.

Overall CE ranks 1st on our list of the stocks that plummeted on Wednesday. While we acknowledge the potential of CE as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than CE but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.

Disclosure: None. This article is originally published at Insider Monkey.