We recently compiled a list of the 10 Stocks Mirror Wall Street Downturn. In this article, we are going to take a look at where ACV Auctions Inc. (NASDAQ:ACVA) stands against the other stocks.

Shares on Wall Street traded lower on Thursday, as investors moved to unload positions to mitigate risks from uncertainties brought about by key economic factors such as President Donald Trump’s continued tariff threats and policy shifts.

The Dow Jones dived by 1.01 percent, the S&P 500 declined 0.43 percent, while the tech-heavy Nasdaq lost 0.47 percent.

Ten companies also mirrored a broader market downturn, finishing the trading session in the red territory amid a flurry of catalysts dampening investor sentiment.

To come up with Thursday’s worst performers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.

A row of used cars with shoppers inspecting them on a lot.

ACV Auctions Inc. (NASDAQ:ACVA)

ACV Auctions Inc. (NASDAQ:ACVA) fell for a third day on Thursday, losing 9.98 percent to close at $18.59 apiece as investor sentiment was dampened by disappointing earnings results.

In a statement, ACV Auctions Inc. (NASDAQ:ACVA) said net loss widened by 12.5 percent to close at $26.1 million from $23.2 million in the same period last year, despite revenues growing by 35 percent to $159 million from $118 million year-on-year.

Net loss for the full year also grew by 5.9 percent to $79.7 million from $75.26 million, while revenues increased by 32 percent to $637 million from $481 million.

For the first quarter of the year, ACV Auctions Inc. (NASDAQ:ACVA) expects revenues to settle between $180 million and $185 million, or an increase of 24 percent to 27 percent year-on-year. It also expects to remain at a net loss ranging from $19 million to $21 million for the quarter.

For the full year, revenues were pegged at $765 million to $785 million, or a 20 to 23 percent growth, and net loss to settle between $52 million to $62 million.

Overall ACVA ranks 6th on our list of Thursday's top losers. While we acknowledge the potential of ACVA 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 timeframe. If you are looking for an AI stock that is more promising than ACVA but that 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 Complete List of 59 AI Companies Under $2 Billion in Market Cap.

 

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