The Nasdaq is down 366.66 points in trading on Wednesday as the rise in coronavirus cases across the U.S. has investors worried about how the recent surge will affect markets.
Here are the worst stocks in the Nasdaq on Wednesday by percentage decrease during trading Wednesday.
1. Apple Inc. | -3.30% | Price $ 112.87
Apple (AAPL) – Get Report is looking to challenge Google (GOOGL) – Get Report in its most profitable business segment, internet search, according to a report by the Financial Times.
2. Nvidia Group | -4.01% | Price $514.22
Earlier this month, Nvidia (NVDA) – Get Report shares rose after analysts praised the semiconductor titan as it unveiled new products and issued a strong growth outlook for its data-center market.
The Santa Clara, Calif., graphics-chip specialist made the announcements during a technology conference.
3. Regeneron Pharmaceuticals | -2.68% | Price $567.21
Regeneron said earlier this month that it will seek emergency use authorization from the Food & Drug Administration for its monoclonal antibody treatment for the coronavirus.
This is the same treatment that President Donald Trump has been treated with after he had tested positive for the coronavirus
4. Tesla Inc. | -2.73% | Price $413.46
On Tuesday, Tesla (TSLA) – Get Report reportedly will ship about 7,000 made-in-China electric cars to Europe. The Model 3 was made at the company’s Shanghai gigafactory, CNBC reported, citing a report in the China-backed outlet the Paper.
5. Adobe Systems | -4.26% | Price $458.22
In September, Adobe Inc. (ADBE) – Get Report posted better-than-expected results for its fiscal third-quarter and offered upbeat guidance for the fourth quarter.
The company reported revenue of $3.23 billion, up 14% over the same period a year ago. Diluted earnings per share were $2.57 on a non-GAAP basis.
6. Zoom Video Communications | -3.50% | Price $520.11
Shares of Zoom Video Communications (ZM) – Get Report rose Monday after the videoconferencing platform announced its end-to-end encryption product was now available to users globally, free and paid, for meetings with up to 200 participants.
Zoom Video received a lot of criticism early in the coronavirus pandemic when usage of the platform exploded but security issues emerged. For example, intruders appeared in some conferences.
7. Align Technology | -3.00% | Price $441.69
Last week, Align Technology (ALGN) – Get Report was getting rave reviews from analysts Thursday after the maker of Invisalign teeth straighteners beat Wall Street’s third-quarter earnings expectations.
Shares of the San Jose-based medical device company were surging 34.8% to $453
8. Facebook Inc. | -4.07% | Price $271.77
Facebook (FB) – Get Report users can now play games like Solitaire and WWE on Facebook without downloads, over a new cloud-based gaming platform, the social-media company said Monday.
Facebook reports earning on Thursday.
9. Moderna | -4.9% | Price $67.21
Last week, Moderna (MRNA) – Get Report CEO Stephane Bancel said that the U.S. government could authorize emergency use of the company’s experimental Covid-19 vaccine in December if Moderna gets positive interim results in November from a large clinical trial.
10. Microsoft Corp | -4.01% | Price $204.69
Shares of Microsoft (MSFT) – Get Report rose after hours Tuesday after the company reported quarterly results that topped estimates.
The company reported quarterly revenue of $37.2 billion with earnings of $1.82 per share. Analysts were expecting revenue of $35.76 billion with earnings of $1.55 per share.
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