As Wall Street moves past the Federal Reserve’s latest interest‑rate cut, traders are staring at a very different story on their screens today: a cluster of heavy losers across U.S. stocks, led by a double‑digit plunge in Oracle and spectacular collapses in a handful of thinly traded micro‑caps.
On Thursday, December 11, 2025, U.S. index futures are in the red despite the Fed’s 25‑basis‑point rate cut to a 3.5%–3.75% target range. The trigger: Oracle’s earnings and spending plans, which have revived worries that AI capital expenditure is outrunning returns and stoked talk of an “AI bubble.” [1]
Below is a breakdown of the biggest stock losers and the stories behind them, based on the latest news, forecasts, and analyses published on December 11, 2025.
Market snapshot: rate cuts, AI fears and red screens
- Futures slide after Fed cut: S&P 500 futures are down roughly 0.5%–0.9%, Nasdaq 100 futures about 0.8%–1.2%, and Dow futures modestly lower, as the post‑Fed relief rally fades. [2]
- Fed backdrop: On Wednesday, the Fed cut rates for a third meeting in a row but signaled a pause, stressing ongoing labor‑market risks and still‑elevated inflation. Major U.S. indices actually closed higher on the day (Dow +1.05%, S&P 500 +0.67%, Nasdaq +0.33%). [3]
- New narrative today: That optimism has been overshadowed by Oracle’s results. Several global markets notes describe Oracle’s miss and aggressive AI spending as an “AI reality check” that is knocking stocks globally. [4]
Against that macro backdrop, the biggest single‑stock losers fall into three broad buckets:
- Large‑cap tech: Oracle at the center of the AI debate
- Earnings blowups: Lakeland Industries and other mid‑caps
- Micro‑cap crash‑landings: WOK, ATPC, POM, CHOW, AFJK and friends
Oracle (ORCL): today’s standout large‑cap loser
What Oracle reported
Oracle’s fiscal Q2 2026 earnings were a classic “good news, bad news” mix:
- Revenue: Around $16.1 billion, just shy of Wall Street estimates near $16.2 billion – a small miss, but enough to disappoint given the AI hype. [5]
- Earnings: Non‑GAAP EPS of about $2.26, well ahead of consensus around $1.64, helped by a one‑off gain. [6]
- Cloud strength vs legacy softness: Oracle Cloud Infrastructure (OCI) revenue jumped roughly 68% year‑on‑year to about $4.1 billion, while traditional software license revenue declined, underscoring a shift toward AI and cloud services. [7]
- Backlog: Remaining performance obligations – its contracted future revenue – surged to roughly $523 billion, suggesting strong long‑term demand. [8]
The real problem wasn’t last quarter; it was the outlook and spending:
- Management guided current‑quarter EPS to about $1.64–$1.68, below analyst expectations near $1.72, hinting at margin pressure. [9]
- Oracle signaled that AI‑related capex will be roughly $15 billion higher than previously indicated, pushing planned spending on data centers and infrastructure to around $50 billion over its planning horizon. [10]
How the stock is reacting
Markets are punishing that trade‑off between growth and profitability:
- Reuters and other outlets report Oracle shares down around 11%–12% in after‑hours and premarket trading, wiping out tens of billions of dollars in market value and putting the stock on track for its worst day since the early‑2025 DeepSeek‑related rout. [11]
- One global markets wrap notes that Oracle’s slump has pulled Nasdaq futures down around 1%, and hit Japan’s Nikkei as well, highlighting how central the stock has become to the global AI trade. [12]
- Commentators at MLQ.ai and elsewhere describe the move as one of the sharpest post‑earnings drops for a large enterprise software name this season, driven by fears that huge AI capex and debt‑funded build‑outs may not translate into profits quickly enough. [13]
In percentage terms, Oracle is nowhere near the wild 80%–90% micro‑cap collapses. But among large, widely held U.S. stocks, it is today’s headline loser.
Analysts split on the outlook
Today’s analyst reaction shows just how polarized sentiment is:
- Jefferies reportedly maintained a $400 price target, arguing that long‑term AI growth potential remains intact despite near‑term volatility. [14]
- BMO Capital cut its target to $270 on “lackluster revenue,” underscoring concerns that growth isn’t keeping pace with spending. [15]
- Morningstar reduced its fair‑value estimate from $340 to $286, citing lower long‑term earnings expectations and the drag from heavier capex. [16]
- Reuters quotes one analyst describing Oracle as being at “the epicentre of the AI financing debate” because it lacks the cash‑flow firepower of Google, Amazon or Microsoft, making its aggressive AI build‑out feel riskier. [17]
Put simply: the market is now re‑pricing Oracle as an AI infrastructure heavyweight that must prove it can convert a massive backlog into cash before investors are comfortable paying peak multiples again.
Lakeland Industries (LAKE): earnings miss and withdrawn guidance trigger a collapse
Away from mega‑cap tech, one of the biggest percentage losers on U.S. exchanges is Lakeland Industries, a maker of protective clothing and safety gear.
What went wrong
Lakeland’s most recent quarter was brutal:
- The company swung to a large quarterly loss of about $0.70 per share, versus analyst expectations for a profit around $0.17 per share. [18]
- Revenue grew only modestly (around 4%), but profits plunged roughly 95%, driven by margin compression and higher costs. [19]
- Management withdrew full‑year FY2026 guidance and suspended its dividend, saying it needed flexibility to focus on growth initiatives and navigate a lumpy pipeline of global tenders worth about $178 million. [20]
Market and analyst reaction
The result has been a two‑day rout:
- Lakeland’s stock fell around 40% after the earnings release, hitting its lowest levels since 2016 and landing among the biggest decliners on U.S. markets. [21]
- DA Davidson downgraded the shares from Buy to Neutral and slashed its price target from $20 to $14, citing ongoing margin pressures and execution risk. [22]
Commentary from earnings‑call summaries emphasizes a mixed picture: Lakeland is growing sales and building a sizable tender pipeline, but investors are unconvinced that it can do so profitably in the near term. [23]
Micro‑cap meltdown: WOK, ATPC, POM, CHOW and AFJK dominate percentage decliners
On a pure percentage basis, today’s “biggest losers” list is dominated by tiny, speculative stocks, many of them recent IPOs or reverse‑split names trading on Nasdaq or NYSE American.
A WallStreetZen screener of the largest price drops on the NYSE and Nasdaq shows dozens of U.S.‑listed names down more than 20%, with several collapsing by 60%–96% in a single session. [24] A fresh analysis from Financial Modeling Prep (FMP), published late Wednesday, walks through these dramatic moves. [25]
WORK Medical Technology Group (WOK): big contract, even bigger collapse
- Move: WOK appears near the very top of today’s losers, with its share price down roughly 96% to around $0.20–$0.25 in recent trading, according to FMP and live screeners. [26]
- What the company does: WOK manufactures disposable medical devices and breathing equipment used in hospitals, and exports to multiple regions. [27]
- Recent news: Ironically, the plunge comes despite a string of seemingly positive headlines: a six‑figure service contract for a subsidiary, fresh equity financing and a 1‑for‑100 reverse split aimed at regaining Nasdaq compliance after the stock traded below the exchange’s minimum bid rules. [28]
Commentary from Simply Wall St and others notes that WOK has already lost roughly 99% of its value over the past year, making today’s collapse part of a prolonged destruction of shareholder capital rather than a one‑off shock. [29]
Agape ATP (ATPC): 95% plunge despite a partnership headline
- Move: FMP reports Agape ATP Corp down about 95% to roughly $0.06, with trading volume spiking to more than 80 million shares. [30]
- Catalyst: The sell‑off is particularly striking because it followed the announcement of a strategic partnership with Swiss One Oil & Gas involving a purchase order for diesel and jet fuel – a headline that, in calmer conditions, might have supported the stock. [31]
- Context: Fundamental metrics remain weak: previous analysis flagged negative margins and poor returns on equity, and the company already carried a consensus “sell” rating before the crash. [32]
The takeaway: in speculative micro‑caps, “good news” contracts are sometimes not enough to offset market doubts about financing, governance and long‑term viability.
POMDOCTOR (POM): an 80–90% “black swan” day
- Move: Several data providers show POMDOCTOR Ltd. falling in the 80%–90% range in a single session, with prices collapsing from above $1.50 to well under $1.00. [33]
- News hook: POM recently released unaudited results for the first half of fiscal 2025; analysts note that while management talked up expansion plans, investors appear unconvinced about the company’s ability to execute profitably. [34]
- Market commentary: AInvest describes the move as an “unprecedented intraday collapse” and a potential “black swan” for the stock, with traders debating whether this is a short‑term technical flush or a sign of deeper structural issues. [35]
ChowChow Cloud (CHOW): post‑IPO euphoria unwinds
- Move: FMP lists ChowChow Cloud International Holdings among the top losers, with the stock down nearly 88% to about $1.40. [36]
- Backstory: The company went public only a few months ago, raising roughly $12 million by selling nearly 3 million shares at $4 apiece. Since then, the stock briefly soared above $21 before crashing back toward the low single digits. [37]
This is a classic pattern in speculative IPOs: early euphoria, thin liquidity and aggressive retail trading can push prices far above fundamentals, only for them to mean‑revert violently once the hype fades.
Aimei Health Technology (AFJK): from four‑digit gains to 60% losses
- Move:AFJK is another eye‑catching name on today’s losers list, down more than 60% after previously gaining over 1,000% in a single session. [38]
- FMP notes that the share price has crashed from a 52‑week high near $98 to the teens, underlining how quickly speculative spikes in low‑float names can unwound. [39]
Other notable losers: Polestar and ADTX
Polestar Automotive (PSNY)
Swedish EV maker Polestar is also appearing on U.S. top‑loser lists with a drop in the 20%+ range, extending a long slide in the stock. [40]
The backdrop:
- In mid‑November, Polestar announced a 1‑for‑30 reverse split of its American depositary shares to push the share price back above the Nasdaq’s $1 minimum after receiving a non‑compliance notice. [41]
- The company is struggling with weak U.S. EV demand, pricing pressure and high production costs, and recently reported a wider Q3 loss. [42]
Today’s decline looks like the market continuing to price in those structural challenges, even as Polestar works to protect its listing.
Aditxt (ADTX)
Biotech player Aditxt is also down sharply (around 20% intraday), still digesting a 1‑for‑113 reverse split announced in early November and a strategic shift that includes plans for a digital‑asset treasury and a spinoff of certain businesses. [43]
In both Polestar and Aditxt, extreme share‑price moves are happening against a backdrop of listing pressure, reverse splits and capital‑structure stress—a recurring theme across today’s biggest losers.
AI and crypto ecosystem under pressure
Oracle’s slide isn’t happening in a vacuum. Its earnings have become a sector‑wide referendum on AI spending:
- Reuters notes that chipmakers Nvidia and Broadcom are down about 1.7% in premarket trading, while big cloud players Microsoft and Amazon are off around 0.7%, and AI infrastructure firm CoreWeave is down roughly 3%. [44]
- Crypto‑linked stocks such as MicroStrategy and Bit Digital are also weaker as Bitcoin briefly dipped below $90,000, suggesting a broader trimming of high‑beta “AI and risk‑asset” trades. [45]
Several analyses frame today as an “AI bubble reality check” rather than a clear bursting of the theme. The core argument:
- AI‑related demand and backlogs (including Oracle’s enormous contract pipeline) remain strong.
- But cash flows and earnings are not yet matching the scale of capex, especially for firms without the balance‑sheet strength of the mega‑tech giants. [46]
What today’s biggest losers tell us about the market
A few themes stand out from today’s tape:
- Cost of AI capital is coming into focus
Oracle’s drop, and the sympathetic moves in Nvidia, Broadcom and others, suggest investors are now scrutinizing return on AI investment, not just headline growth. Companies that rely more on debt to fund capex are under particular pressure. [47] - Earnings quality and guidance matter more than small beats
Lakeland’s collapse shows that beating or missing EPS by a few cents is secondary to guidance credibility, margin trends and capital‑allocation decisions. Withdrawing guidance and suspending dividends is being punished, even when revenues grow. [48] - Micro‑cap speculation is extremely fragile
WOK, ATPC, POM, CHOW and AFJK are reminders that thinly traded, story‑driven names can lose 80%–95% in a day, often right after flashy rallies or positive‑sounding press releases. The FMP analysis highlights how contract wins, IPO proceeds or partnership announcements haven’t prevented violent re‑ratings. [49] - Macro remains supportive, but not enough to save bad stories
Even with the Fed cutting rates and global bond yields easing, stocks tied to stretched valuations or deteriorating fundamentals are under heavy pressure. AI bubble worries are now coexisting with hopes for easier policy in 2026. [50]
What to watch next
For traders and longer‑term investors, the next catalysts around today’s losers include:
- Further AI earnings and guidance: Names like Broadcom report after today’s close, and their commentary on data‑center spending, AI infrastructure demand and margins will either reinforce or ease nerves sparked by Oracle. [51]
- U.S. macro data: Weekly jobless claims, upcoming non‑farm payrolls and inflation updates will determine whether the Fed can continue cutting in 2026 as futures currently imply. [52]
- Follow‑through in micro‑caps: Many of the day’s micro‑cap losers have extreme volume spikes and technical breakdowns. Past episodes suggest some may stage sharp dead‑cat bounces, but the underlying fundamental issues (listing risk, weak balance sheets, lack of profits) won’t disappear overnight. [53]
References
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