We recently published a list of Friday’s 10 Worst Performing Stocks. In this article, we are going to take a look at where Cenovus Energy Inc. (NYSE:CVE) stands against other Friday’s worst performing stocks.

The stock market suffered a bloodbath anew on Friday as investors digested news of a growing trade war, with China making good on its promise with a steep tariff on US goods.

As of 2:55 PM, the S&P 500 lost 5.47 percent of its value, the tech-heavy Nasdaq fell 5.37 percent, and the Dow Jones was down by 5.09 percent.

Following President Donald Trump’s imposition of hefty tariffs on all imports to the US, China on Friday struck back with a 34-percent tariff on US goods. The tariffs will begin on April 10.

Ten individual stocks mirrored a broader market pessimism, recording steep intra-day losses. In this article, let us explore Friday’s worst intra-day performers and the reasons behind their decline.

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

A fleet of oil tankers at sea, representing the global reach of a crude oil supplier.

Cenovus Energy Inc. (NYSE:CVE)

Cenovus Energy dropped its share prices for a second day on Friday, losing 13.07 percent at intra-day trading as investors sold off positions to mitigate risks from the ongoing global trade war.

CVE, a Canada-based oil and gas company, is expected to bear the impact of the ongoing trade war, amid various operations located within the US, Canada, and the Asia Pacific region.

At present, the company operates and owns a 50-percent stake in two refineries in Wood River, Illinois and Borger, Texas, through a joint venture with the operator Phillips 66.

It also has offshore operations in China with the Liwan Gas Project and Pearl River Mouth Basin, as well as gas fields in the Madura Strait PSC in Indonesia.

CVE was sold down despite analysts from the Royal Bank of Canada assigning an “outperform” rating and a $25 price target on the company on Wednesday

Overall, CVE ranks 9th on our list of Friday’s worst performing stocks. While we acknowledge the potential of CVE 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. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than CVE but that trades at less than 5 times its earnings, check out our report about this 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.