We recently compiled a list of the 10 Firms Kick Off 2025 Trading in The Red. In this article, we are going to take a look at where TeraWulf Inc. (NASDAQ:WULF) stands against the other stocks.
The stock market finished the first trading day of the year in the negative territory—a fifth straight day, over the lack of catalysts to spark trading appetite.
The Dow Jones Industrial Average was down the most by 0.36 percent, the S&P 500 decreased 0.22 percent, and the Nasdaq Composite dipped 0.16 percent.
Ten companies also kicked off trading mirroring the broader market downturn. In this article, let’s explore the reasons behind their decline.
To come up with Thursday’s top losers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
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TeraWulf Inc. (NASDAQ:WULF)
Shares of Bitcoin miner TeraWulf on Thursday declined by 3.53 percent or 0.20 points to end at $5.46 apiece, mirroring a broader market downturn.
According to analysts, investors remained in a wait-and-see mode following growing concerns over rising Bitcoin mining costs which have been significantly impacting the company’s financial performance.
In its recent filing, TeraWulf reported a loss of $0.06 per share in the third quarter of the year, worse than the expected loss of $0.03 per share.
To offset higher Bitcoin mining costs, the company announced earlier that it would lease more than 70 megawatts of data center infrastructure to AI and cloud provider Core42 to expand its artificial intelligence revenue.
Overall WULF ranks 8th on our list of the stocks that crashed yesterday. 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 timeframe. 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.