We recently compiled a list of the 10 Stocks Drop Double Digits as Investor Caution Lingers. In this article, we are going to take a look at where Grindr Inc. (NYSE:GRND) stands against the other  stocks.

The stock market fell into the negative territory on Thursday, as investor caution lingered over the ongoing trade tensions among some of the world’s largest economies.

The tech-heavy Nasdaq posted the largest loss, down 2.61 percent, followed by the S&P 500 with 1.78 percent, and the Dow Jones with 0.99 percent.

Ten companies mirrored a broader market decline, dropping by as much as double digits during the end of the session. In this article, we named Thursday’s 10 biggest losers and detailed the reasons behind their decline.

To come up with the list, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.

A young queer person looking up at a giant LGBTQ flag, celebrating visibility and inclusion.

Grindr Inc. (NYSE:GRND)

Grindr Inc. (NYSE:GRND) fell by 16 percent on Thursday to close at $16 apiece as investors sold off positions following a dismal earnings performance last year.

In a statement, Grindr Inc. (NYSE:GRND) said its net loss widened by 135 percent last year to $131 million from $56 million year-on-year despite revenues growing by 32 percent to $344.6 million from $259.7 million in the same comparable period.

For this year, Grindr Inc. (NYSE:GRND) said it expects to book a 24-percent growth in revenues and a 41-percent EBITDA margin.

“With our 2025 guidance, we will continue to deliver another strong growth year. The foundation we’ve built in a short amount of time leaves me truly inspired about what Grindr can accomplish and tremendously enthusiastic about our long-term potential,” said GRND CEO George Arison.

Grindr Inc. (NYSE:GRND) also embarked on a $500 million share buyback program for its common stocks for two years.

Overall GRND ranks 5th on our list of Thursday's biggest losers. While we acknowledge the potential of GRND as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than GRND but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

 

Disclosure: None. This article is originally published at Insider Monkey.