Why Core Scientific, Inc. (CORZ) Went Down On Monday?

We recently published a list of 10 Stocks Drop The Most Amid Investor Caution. In this article, we are going to take a look at where Core Scientific, Inc. (NASDAQ:CORZ) stands against other stocks that drop the most amid investor caution.

Wall Street kicked off the first trading day of the week on a sour note, with all the major indices closing mixed as investors chose to stay on the sidelines while waiting for further updates on key economic news, including trade tariffs and government spending, among others.

The Dow Jones was the sole gainer among all major indices, eking out a 0.08-percent gain. In contrast, the S&P 500 and the tech-heavy Nasdaq both fell 0.50 percent and 1.21 percent, respectively.

Meanwhile, we have compiled a list of 10 companies that mirrored the broader market downturn and detailed the reasons behind their drop.

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

Note that the companies we covered in-depth last Friday have been excluded from the list.

Source: pixabay

Core Scientific, Inc. (NASDAQ:CORZ)

Core Scientific, Inc. (NASDAQ:CORZ) declined for a sixth consecutive day on Monday, losing another 8.7 percent to finish at $9.86 apiece as investors repositioned their portfolios ahead of its earnings release on Wednesday, February 26, further fueled by the company already in oversold territory.

Based on analyst expectations, Core Scientific, Inc. (NASDAQ:CORZ) is expected to register an average of $97.06 million in revenues for the fourth quarter of the year, with earnings per share (EPS) pegged at $0.05.

For the first quarter of the year, revenues are expected to settle at an average of $101.5 million, with EPS of $0.07.

Core Scientific, Inc. (NASDAQ:CORZ) is a Bitcoin miner and data infrastructure company that operates one of the largest high-performance computing (HPC) data center operations in North America.

Overall, CORZ ranks 7th on our list of stocks that drop the most amid investor caution. 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 more promising than CORZ 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.