Celanese (CE) lost 21.46% of its value on Wednesday after posting fourth-quarter results the day before. The firm posted a revenue decline of 7.8% Y/Y, to $2.37 billion.
Celanese is near a decade low after posting a loss and issuing weak guidance. Losses topped $1.91 billion in Q4, compared to a $701 million profit the year before. The automotive and industrial sectors are headwinds, as they cut their inventory.
Axon Enterprise (AXON) shares fell by $116.59 to close at $593.42, down by 16.4%. Unfortunately, Northcoast Research’s downgrade hurt AXON stock. The analyst depended on valuation as the bearish thesis. In addition, the analyst believes that Axon will not issue strong guidance for 2025.
Axon does not have any competitors that will erode its profit margins. The stock trades at a premium to reflect its strong prospects ahead. Investors may take advantage of the dip in the share price, betting on a rebound after it posts quarterly results.
Palantir (PLTR) stock finally lost momentum after shares climbed nearly non-stop for the last six months. PLTR stock dropped by 10.08% on Wednesday. The firm announced a multi-year strategic partnership with SAUR. It will supply contract management processes through Palantir Foundry. This product offers generative AI capabilities.
PLTR stock fell when Defense Secretary Pete Hegseth wrote a memo to cut the defense budget by 8% in each of the next five years.
