Why Terawulf Inc. (WULF) Is Among Tuesday’s Worst Performers?

We recently published a list of 10 Stocks Nosedive, Defying Broader Optimism. In this article, we are going to take a look at where Terawulf Inc. (NASDAQ:WULF) stands against other stocks nosedive, defying broader optimism.

Ten companies—predominantly Bitcoin miners—kicked off this week’s trading on a sour note, bucking an overall market optimism, following the lack of fresh developments to spark buying appetite.

On Tuesday, the Dow Jones rose by 1.24 percent, the S&P 500 rose 0.88 percent, while the Nasdaq Composite increased 0.64 percent.

In this article we will look at Tuesday’s worst performers and explore the reasons behind their drop.

To come up with Tuesday’s top losers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

Terawulf Inc. (NASDAQ:WULF)

Terawulf Inc.’s (NASDAQ:WULF) shares dropped for a second day on Tuesday as investors repositioned their portfolios amid the lack of any statements from President Donald Trump on his plans for the cryptocurrency industry.

In recent months, Trump made several promises to the cryptocurrency industry, including releasing a potential executive order to make cryptocurrency a national priority.

However, Monday did not hear any mention of cryptocurrencies at all, leaving the industry disappointed. Many had hoped the crypto-friendly president would drive a transformative shift in US policies toward the volatile asset class, but his silence dashed such expectations.

Investor pessimism both dampened prices of Bitcoin and share prices of cryptocurrency miners. As of this writing, Bitcoin’s prices were already down by 0.39 percent to close at $105,785 apiece.

Overall, WULF ranks 8th on our list of stocks nosedive, defying broader optimism. While we acknowledge the potential of WULF 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 time frame. If you are looking for an AI stock that is more promising than WULF but that 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.