We recently published a list of These 10 Firms Were Battered by Dismal Earnings, Outlook Guidance. In this article, we are going to take a look at where First Solar, Inc. (NASDAQ:FSLR) stands against other worst-performing stocks on Wednesday.

A lackluster trading persisted on the stock market anew on Wednesday, with the three major indices finishing mixed, as investors digested news of the US economy’s contraction in the first quarter of the year, triggering fears of recession.

Among all major indices, only the Dow Jones and S&P 500 ended in the green, up 0.35 percent and 0.15 percent, respectively. In contrast, the tech-heavy Nasdaq dipped by 0.09 percent.

Ten companies also mirrored the wider market downturn, predominantly due to dismal earnings performance and tempered growth outlook for the remainder of the year.

In this article, we have named 10 of the worst-performing stocks on Wednesday and detailed the reasons behind their drop.

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

A solar panel farm with an orange sky illuminating the vast landscape.

First Solar, Inc. (NASDAQ:FSLR)

First Solar extended its losing streak for a third straight day on Wednesday, shedding 8.32 percent to finish at $125.82 apiece as investors sold off positions following a plunge in net earnings performance in the first quarter of the year.

In its latest earnings release, First Solar, Inc. (NASDAQ:FSLR) said that its net income fell by 11 percent to $209.5 million from $236.6 million in the same period a year earlier, while net sales rose by 6 percent to $844 million from $794 million year-on-year.

Additionally, the company’s lowered growth outlook for the rest of the year helped drag down investor sentiment.

Amid the ongoing market uncertainties, First Solar, Inc. (NASDAQ:FSLR) said it is now projecting net sales to settle between $4.5 billion and $5.5 billion, lower than the $5.3 billion to $5.8 billion target previously.

Expected diluted earnings per share were also reduced to between $12.50 and $17.50 from the $17 to $20 previously.

Overall, FSLR ranks 4th on our list of worst-performing stocks on Wednesday. While we acknowledge the potential of FSLR 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 FSLR 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.