We recently published a list of 10 Firms Buck Broader Market Optimism. In this article, we are going to take a look at where CNX Resources Corporation (NYSE:CNX) stands against other firms buck broader market optimism.

Wall Street’s main indices finished in the green territory on Friday amid a series of catalysts buoying investor appetite.

The Dow Jones Industrial Average rose by 0.80 percent, while the S&P 500 and Nasdaq Composite rallied by 1.26 percent and 1.77 percent, respectively.

Despite the wider optimistic sentiment, 10 companies managed to post declines. Here is why:

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

A long line of heavy-duty trucks transporting natural gas across a rural highway.

CNX Resources Corporation (NYSE:CNX)

Shares of CNX Resources Corporation (NYSE:CNX) posted the biggest decline on Friday, dropping 11.25 percent or 4.20 points to close at $33.12 apiece.

According to analysts, shares of the company were weighed down by its lukewarm reception of the new hydrogen tax credits.

While it acknowledges the environmental and economic benefits of Coal Mine Methane, CNX Resources (NYSE:CNX) said that the final rules of Section 45V, the Clean Hydrogen Production Tax Credit, seem too restrictive and do not offer sufficient economic incentives to expand its CMM capture operations for hydrogen use.

Despite reservations, the company said it is planning to leverage the validation and explore alternative incentive pathways for CMM, such as voluntary markets, other tax incentives, and compliance program commercial opportunities.

Overall, CNX ranks 1st on our list of firms buck broader market optimism. While we acknowledge the potential of CNX as an investment, our conviction lies in the belief that 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 CNX but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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