Oracle (NYSE:ORCL) stock remains in a steep freefall, wiping out billions of dollars in market value and emerging as one of the worst-performing stocks in the Nasdaq 100 Index this year.
The shares fell to $121.50 this week, their lowest level since April last year and 64% below their all-time high. The sell-off has come despite the company’s record backlog and the ongoing artificial intelligence (AI) boom.
