Why Core Scientific Inc. (CORZ) Performed Worst On Tuesday?

We recently published a list of Pulse of The Market: Tuesday’s 10 Worst Performers. In this article, we are going to take a look at where Core Scientific Inc. (NASDAQ:CORZ) stands against other Tuesday’s worst performers.

Wall Street finished Tuesday’s trading in a lackluster fashion, with all major indices ending in the green territory, but only eking out small gains.

The tech-heavy Nasdaq rallied the most, up by 0.46 percent, followed by the S&P 500 with 0.16 percent, and the Dow Jones with a marginal 0.01 percent.

The muted trading spilled over into individual stocks, with 10 in particular posting significant losses. In this article, let’s explore the top 10 companies that performed poorly on Tuesday.

To come up with the list, we considered only the stocks with $2 billion market capitalization and $5 million in trading volume.

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Core Scientific Inc. (NASDAQ:CORZ)

Core Scientific dropped by 6.98 percent on Tuesday to finish at $8.66 apiece, in line with the broader lackluster market, as investors sold off positions while waiting for fresh catalysts to boost investing appetite.

In recent news, CORZ announced the expansion of its existing footprint in Dalton, Georgia with an additional 170 acres of land set for development.

The company is looking to build an AI data center called Dalton 4 in the area, close to its existing facilities, which it expects to open by July 2026.

According to reports, another facility is expected to be built in the future.

At present, CORZ boasts a 195MW footprint, with one of its data centers housing Nvidia Corp.’s DGX hardware.

Overall, CORZ ranks 1st on our list of Tuesday’s worst performers. While we acknowledge the potential of CORZ 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. If you are looking for an AI stock that is as promising as CORZ but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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