Stock Market Sees Major Declines as Several Companies Experience Steep Drops in Share Prices

Major stock market decliners on January 2, 2025, include Neumora Therapeutics, Inc. (OTC: NMTH), Baird Medical Investment Holdings Ltd. (OTCMKTS: BMED), and Sidus Space, Inc. (OTCMKTS: SIDU). Here's a closer look at the biggest losers of the day:

1. Neumora Therapeutics, Inc. Plunges 80.09%

Among the steepest decliners on Friday was Neumora Therapeutics, Inc., with an 80.09% drop in stock price, falling to $2.11. The company's market capitalization now stands at $1.71 billion. This drastic decline indicates a significant shift in investor sentiment, which could be triggered by disappointing news such as poor clinical trial results, regulatory hurdles, or other challenges in its pipeline.

2. Baird Medical Investment Holdings Ltd. Drops 44.08%

Another substantial downturn was seen in Baird Medical Investment Holdings Ltd., as the company's stock experienced a 44.08% decrease, bringing it down to $4.25. The company's market capitalization now stands at $150.66 million. This sharp decline could be attributed to market reactions to business performance, regulatory challenges, or broader market trends impacting the sector.

3. Sidus Space, Inc. Falls 32.24%

In the emerging space technology sector, Sidus Space, Inc. saw a 32.24% decrease in its stock price, with shares now trading at $3.32. With a market cap of $28.89 million, the stock's steep drop reflects the volatility often seen in this industry. This decline could be a response to potential operational difficulties, shifting market expectations, or external factors affecting the aerospace and technology sectors.

4. New Era Helium Inc. Declines 27.50%

Another notable decline was seen in New Era Helium Inc., as the company's stock experienced a decrease of 27.50%, with shares now priced at $4.35. The company has a market cap of $57.27 million. This decline suggests investor caution in the helium exploration sector, which might be influenced by fluctuating commodity prices or operational setbacks in its projects.

5. Shineco, Inc. Faces 20.75% Drop

Also facing a significant drop was Shineco, Inc., as its stock saw a decline of 20.75%, trading at $3.59. The company's market capitalization now stands at $6.23 million, signaling investor concern over Shineco's future prospects. This decline might stem from challenges in its business model or broader market conditions affecting companies in the consumer goods and technology sectors.

6. Park Ha Biological Technology Co., Ltd. Slips by 17.81%

Finally, Park Ha Biological Technology Co., Ltd. saw its stock decrease by 17.81%, with shares now priced at $5.17. The company's market capitalization stands at $6.2 million, and this drop could be attributed to disappointing financial results, regulatory concerns, or broader macroeconomic factors affecting investor sentiment.