Aashika Suresh
4 min read
-
SOC stock tumbled 54% on Monday after it raised “substantial doubt” about its ability to continue as a going concern while posting its latest earnings report.
-
OPEN stock fell to an annual low before recovering to close up about 0.71%.
-
TRIP stock also declined to a 52-week low during trading hours before closing up 1.71%.
Shares of Sable Offshore Corp. (SOC), Opendoor Technologies Inc. (OPEN) and TripAdvisor Inc. (TRIP) plunged to annual lows on Monday amid growing Wall Street concerns around the companies and market headwinds.
SOC stock tumbled 54% on Monday after it raised “substantial doubt” about its ability to continue as a going concern while posting its latest earnings report.
OPEN stock fell to an annual low before recovering to close up about 0.71%.
TRIP stock also declined to a 52-week low during trading hours before closing up 1.71%.
Sable Offshore Plunges On Going Concern Risk
SOC stock fell to an all-time low of $0.51 on Monday after the company’s management flagged latest going-concern doubts.
The oil producer posted third-quarter 2026 financial results, reporting revenue of $154.37 million, up 13% sequentially, but below Wall Street expectations. The company also reported a net loss of $269.32 million or -$1.37 per share, wider than analysts’ consensus.
Sable closed the quarter with $38 million in cash as average daily net sales rose ~29% sequentially to 27,000 barrels per day.
However, management said ongoing purchase reductions by its main crude-oil buyer have forced it to cut production, adding that it is expected to fall short of liquidity to meet obligations as they come due. Sable also said it does not expect operating cash flow and remaining refinancing proceeds to cover near-term operating costs and debt payments.
Jefferies highlighted in a note, as per TheFly, that Sable Offshore cut second-half 2026 net sales guidance after its sole buyer temporarily halted crude purchases in early October, and also cited the “going concern” warning as an issue. The company has added new buyers, is looking to execute a bulk sale of inventory and expects Hondo to be online in November, but near-term liquidity is the key focus. The firm expects the market to react negatively.
On Stocktwits, retail sentiment around SOC stock was ‘extremely bullish’ at the time of writing. The company’s shares have plummeted about 90% year-to-date.
Opendoor Falls On Weak Housing Market
