Despite concerns over bloated valuations, macroeconomic uncertainty, tariffs and geopolitical instability, the S&P 500 has rallied to new all-time highs in 2025. Unfortunately, there are plenty of stocks that have been left behind this year. Some of these underperforming stocks may be providing investors with an opportunity to buy the dip. Many, however, are simply struggling with stiff competition, broken business models, bloated balance sheets or other company-specific challenges.
Here are the 10 worst-performing stocks so far in 2025 among companies that trade on major U.S. exchanges and have market capitalizations of at least $1 billion:
Stock
Trade Desk Inc. （ticker: TTD）
Alight Inc. （ALIT）
Six Flags Entertainment Corp. （FUN）
Venture Global Inc. （VG）
Fiserv Inc. （FISV）
Globant S.A. （GLOB）
FMC Corp. （FMC）
Biohaven Ltd. （BHVN）
Maase Inc. （MAAS）
Sarepta Therapeutics Inc. （SRPT）
Trade Desk Inc. （TTD）
The Trade Desk is a global advertising company that provides a platform for marketers to buy ads across various devices and formats, including video, connected TV and mobile ads. The company’s tools are aimed at helping advertisers create, manage and optimize programmatic campaigns. The Trade Desk’s stock tanked in August when it reported just 18% revenue growth in the third quarter, a sharp slowdown from the 27% growth it reported a year ago. Investors are growing increasingly concerned about mounting competition, and The Trade Desk’s Kokai artificial intelligence platform has had lackluster reviews. TTD stock is down 66.3% year to date.
Alight Inc. （ALIT）
Alight is a cloud services provider that specializes in human capital technology that helps large organizations manage employee benefits such as wealth, health and absence. The company’s AI-driven insights and Alight Worklife platform help employers increase engagement, reduce costs and improve employee experiences by personalizing benefits. Unfortunately, Alight shares hit new multi-year lows in November after the company reported third-quarter revenue dropped about 4% year over year, missing analyst expectations. Earnings also disappointed Wall Street, and Alight cut its full-year financial guidance. Investors are clearly losing patience with the company, and ALIT stock is down 66.6% so far this year.
Six Flags Entertainment Corp. （FUN）
Six Flags Entertainment operates amusement parks, resorts and water parks throughout North America. The company’s 26 amusement parks and 15 water parks generate revenue from ticket sales and in-park purchases such as food and merchandise. In October, Six Flags reported disappointing earnings and revenue numbers for the third quarter. Customers have also been displeased with Six Flags’ cost-cutting efforts since its 2024 merger with Cedar Fair Entertainment, including a reduction of live entertainment and seasonal events at some parks. Six Flags even recently replaced its CEO, creating more uncertainty. The stock is down 68.5% so far in 2025.
Venture Global Inc. （VG）
Venture Global is a U.S. energy company focused on liquefied natural gas production. /Venture produces and exports LNG at its Calcasieu Pass facility in Louisiana, and the company has other projects under development. Following a major recent arbitration win against Shell, Venture Global shares plummeted nearly 25% in a single day in October after the company announced it lost an arbitration case with BP PLC （BP） related to a long-term gas supply contract dispute. BP is reportedly seeking more than $1 billion in damages in a separate financial remedy hearing. VG stock is down 68.9% year to date.
Fiserv Inc. （FISV）
Fiserv provides financial technology and services for banks, merchants and capital market firms. The company’s focus includes processing financial transactions and payments, including electronic bill pay, ATM and credit and debit card transactions. In October, Fiserv’s stock tanked after the company reported a large third-quarter earnings and revenue miss and lowered its full-year guidance significantly. Fiserv’s revenue growth has slowed to a crawl across key business segments, including its merchant and financial solutions business. Bloomberg also reported Fiserv clients are upset over the company’s Clover platform’s excessive fees. As a result, FISV stock is down 70% year to date.
Globant S.A. （GLOB）
Globant is an information technology services company that provides application development, infrastructure management, testing and application maintenance services. The stock took a big hit in February when Globant reported mixed fourth-quarter 2024 numbers and issued lackluster guidance. While fourth-quarter earnings per share came in slightly above analyst expectations, revenue fell slightly short. Perhaps more importantly, the company issued 2025 revenue growth guidance of between 9.1% and 12%. While that type of growth would be fine for most companies, Globant investors clearly had higher expectations after the company reported 15% growth in 2024. Since that weak February guidance, the numbers have only gotten more bleak, with analysts now expecting a mere 1.3% revenue growth in fiscal 2025; GLOB stock is down 70.6% year to date.
FMC Corp. （FMC）
FMC is a leading supplier of insecticides, herbicides, fungicides and other crop protection chemicals. The company’s additional agricultural offerings include crop nutrition products, biologicals and seed treatments. FMC’s stock has been under pressure for more than three years now, largely due to a troubling combination of weak demand and growing competition. In fact, the stock has dropped so much that management was forced to cut FMC’s once-robust quarterly dividend by 83%, from 48 cents to just 8 cents per share, in October. Slumping sales and dividend cuts are bad news, and FMC stock is down 70.6% this year.
Biohaven Ltd. （BHVN）
Biohaven is a clinical-stage biotechnology company developing a range of therapies, including Kv7 ion channel modulation for epilepsy and mood, myostatin inhibition for metabolic disorders, and glutamate modulation for spinocerebellar ataxia and obsessive-compulsive disorder. In April, the European Medicines Agency announced Biohaven withdrew its application for marketing approval for Biohaven’s troriluzole after the agency noted it found several issues with the application. In November, the U.S. Food and Drug Administration （FDA） declined to approve troriluzole for treating SCA due to concerns about study design. Rejections and withdrawals are bad news, and BHVN stock is down 73.1% year to date.
Maase Inc. （MAAS）
Maase is a Chinese financial technology services group that specializes in family financial asset allocation via its wealth management and insurance agency segments. The company is focused on investing in high-quality enterprises that have potential for global scaling in areas such as advanced deep-technology solutions, AI, health and wellness. In June, Maase shares took a big hit when the company announced it would be implementing a 1-for-90 reverse stock split and replacing its American depositary shares with its Class A ordinary shares. Reverse stock splits can be a red flag, and Maase shares are down a split-adjusted 80.6% year to date.
Sarepta Therapeutics Inc. （SRPT）
Sarepta Therapeutics is a biopharmaceutical company developing gene therapies to treat Duchenne muscular dystrophy, or DMD, and limb girdle muscular dystrophy, or LGMD. Sarepta’s leading treatment is Elevidys, a gene therapy for treating DMD. Not surprisingly, Sarepta shares took a hit when the company reported in March that a patient taking Elevidys died from acute liver failure. In June, the company reported a second Elevidys patient death due to liver failure. The FDA subsequently launched an investigation and ultimately decided to restrict use of Elevidys and require a boxed warning, which is the most prominent form of consumer warning the FDA can require. SRPT stock is down 82.4% overall in 2025.