Why TEN Holdings Inc. (XHLD) Went Down On Thursday?

We recently published a list of Thursday’s 10 Worst-Performing Stocks. In this article, we are going to take a look at where TEN Holdings Inc. (NASDAQ:XHLD) stands against other Thursday’s worst-performing stocks.

Wall Street’s main indices edged lower on Thursday, erasing gains from the previous trading day that was buoyed by the Federal Reserve’s decision to keep rates unchanged.

Among the major indices, the tech-heavy Nasdaq led the drop, losing 0.33 percent. The S&P 500 declined by 0.22 percent, while the Dow Jones dipped by 0.03 percent.

Ten companies, predominantly under the micro- and small-cap sectors also mirrored losses. In this article, we have identified Thursday’s 10 worst performers and detailed the reasons behind their gains.

We classify micro-cap companies as those between $50 million and $300 million in market capitalization and small-cap firms as those between $300 million and $2 billion in market capitalization.

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TEN Holdings Inc. (NASDAQ:XHLD)

TEN Holdings fell by 37.27 percent on Thursday to end at $0.9974 apiece as investors took profits following a 172-percent jump in Wednesday’s price.

Based on its historical price data, XHLD is struggling to crawl back to the $1 level, which it is required to maintain to remain listed on the Nasdaq stock exchange.

The Nasdaq requires firms to stay afloat at the $1 level, or they can face a potential delisting.

However, the company has been trading below the minimum bid price requirement for already 11 consecutive days beginning March 4, 2025.

As part of its corporate initiatives, XHLD announced on Thursday that it embarked on a $1 million share repurchase program on March 17.

The buyback will be executed under a Rule 10b-18 plan, funded through cash from operations, and will be governed by market conditions and legal requirements.

XHLD said the program can be discontinued at any time, with no obligation to repurchase any specific amount of shares.

Overall, XHLD ranks 1st on our list of Thursday’s worst-performing stocks. While we acknowledge the potential of XHLD 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 XHLD 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.