Wall Street didn't see a lot of action on Veterans Day, with subdued levels of trading and a relative lack of big news items. Major benchmarks were mixed, and it looked apparent that most investors were waiting until after the holiday to make firmer commitments in their investing strategies. Yet some individual stocks still suffered considerable declines. Cronos Group (NASDAQ:CRON), TimkenSteel (NYSE:TMST), and Chesapeake Energy (OTC:CHKA.Q) were among the worst performers. Here's why they did so poorly.

Cronos gets ready for earnings

Shares of Cronos Group dropped 5% as investors in the marijuana company got ready for the release of its third-quarter financial results. Expectations are high for Cronos, with shareholders wanting to see sales nearly quadruple from year-ago levels. Yet with the stock down more than 60% since February, Cronos will have to answer questions about its long-term strategic vision, especially as it relates to the major investment that tobacco giant Altria Group has made in the cannabis company. If Cronos can deliver unexpectedly good performance, then its stock could mount a nice comeback from its big losses lately.

Cronos Group logo with a green O.

Image source: Cronos Group.

TimkenSteel gets a bad review

TimkenSteel's stock plunged 26% after the steel manufacturer got a negative report from a major Wall Street analyst. J.P. Morgan cut its rating on TimkenSteel from neutral to underweight and slashed its price target on the steelmaker's stock from $9 to $5. The analyst believes that TimkenSteel will have to deal with weaker overall demand, with the energy industry weighing particularly hard on the company. Poor pricing levels are also plaguing steelmakers. With the entire steel industry having hoped for a resolution to trade tensions, a lack of positive news from China or the U.S. also didn't help matters.

Chesapeake can't stop sinking

Finally, shares of Chesapeake Energy fell another 10%. The drop was the latest in a series of declines for the energy stock, stemming from Chesapeake's initial assertion that its status as a going concern might come into question in the near future. The energy company took on a lot of leverage in the past several years, and it counted on a recovery in oil and natural gas prices to help it pay down that debt. Yet with sustained weakness, Chesapeake could find it difficult or impossible to pay down or refinance what it owes. Investors are growing increasingly nervous about that, and the longer the stock stays below the key $1-per-share level, the harder it'll be for investors to regain their confidence.

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