We recently published a list of 10 Firms Mirror Wall Street Bloodbath. In this article, we are going to take a look at where Allegro MicroSystems Inc. (NASDAQ:ALGM) stands against other best worst-performing companies on Monday

Wall Street kicked off the trading week on a sour note anew as investors continued to digest the impact of President Donald Trump’s tariff policies and his criticism of the Federal Reserve.

The tech-heavy Nasdaq fell the most among the major indices, down 2.55 percent, followed by the Dow Jones at 2.48 percent, and the S&P 500 at 2.36 percent.

Ten companies mirrored the market bloodbath, booking significant losses during the day. In this article, we have listed the 10 worst-performing companies on Monday and detailed the reasons behind their declines.

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

A technician operating a robotic arm on a production line of semiconductor chips.

Allegro MicroSystems Inc. (NASDAQ:ALGM)

Allegro MicroSystems fell for a fifth straight day on Monday, shedding 8.47 percent to finish at $16.53 apiece following ON Semiconductor Corp.’s (NASDAQ:ON) withdrawal of its plan to acquire the company.

In a statement last week, ON said that it officially terminated its efforts to acquire ALGM and withdrew its all-cash acquisition proposal of $35.10 per share, saying that it determined there was “no [more] actionable path forward.”

For its part, ALGM said that the company, alongside its independent financial and legal advisors, carefully reviewed and considered ON’s proposals and determined “each was inadequate.”

ALGM added that it continued to pursue negotiations with ON after it axed its proposal, but was rejected by the latter.

In other news, ALGM is set to release the results of its fourth quarter and fiscal year 2025 earnings performance on Thursday, May 8. Investors are expected to closely watch out for its near-term outlook as well as the next steps for the business following ON’s withdrawal.

Overall, ALGM ranks 4th on our list of worst-performing companies on Monday. While we acknowledge the potential of ALGM 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 ALGM 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.