Stocks Farthest From 2025 Peak: Notable Value Losses and the Reasons Behind

While 2025 was a strong period for Borsa Istanbul in which record levels were tested in terms of many stocks, some stocks that stayed away from this rally or fell sharply from their peaks are at the top of investors' agenda. There were declines in a wide range from companies that received quick post-IPO premiums but failed to meet expectations to large-scale industrial companies adversely affected by global economic conditions.

Moving away from the peak, these stocks give important signals to investors not only in terms of price, but also in terms of business model, sustainability and market perception. The companies listed below are among the stocks that declined the most relative to their peaks during the year.

#TUREX — Turkish Tourism (-78%)

Tureks Turizm, which was listed on the Stock Exchange in 2023, was notable for its sharp rise in a short time, but by 2025 it has largely returned these gains. The company's revenue model is largely based on public transport tenders, which raises questions about the sustainability and growth potential of revenues. Alongside the weak financial structure, poor investor relations and low liquidity in volatile market conditions increased pressure on the stock.

#VESTL — Vestel (47%)

Vestel, which operates under Zorlu Holding, is experiencing a difficult period, especially due to the contraction in the European market and weakening consumer demand. In the export-based business model, currency fluctuations and rising production costs have led to a narrowing in profit margins. The company, which struggled to maintain market share as global competition in the electronics sector intensified, was met negatively by investors. Although R&D investments continued, the deterioration in financial rations brought negative pricing in the stock.

#ALFAS — Alpha Solar Energy (-46%)

Alfa Solar, one of the leading players in the renewable energy sector, has not been able to carry its upward momentum into 2025 after the IPO. Falling panel prices on a global scale, aggressive pricing policies by Chinese manufacturers and reduced incentives for solar energy in Turkey have depressed the company's revenues. Despite the increase in production capacity, the failure to establish a sustainable structure on the profitability side caused a weakening of investor confidence. In addition, high valuation factors have paved the way for sharp pullbacks in the stock during periods of intense selling.

#CLEBI — Çelebi Air Service (-45%)

Providing ground services at domestic and international airports, Chelebi is going through a difficult process, especially due to contract uncertainties and exchange rate risk in the Indian market. Despite the recovery of air transport after the pandemic, the increase in personnel costs and the impact of foreign currency liabilities on the balance sheet have limited the operational efficiency of the company. The intensification of sectoral competition and the still inability to achieve a full recovery in global aviation have caused a serious erosion in the share price.

#KONTR — Controllmatic Technology (-43%)

Kontrolmatic, which operates in the energy, communications and defense industries, is among the companies that have grown rapidly in recent years but have borrowed at the same rate. Battery factory projects, which require particularly high investment, and the slow pace of cash generation of overseas EPC activities negatively affected the pricing behavior of the market. Investors began pricing in short-term liquidity risks and indebtedness ratios, although they saw the company's long-term potential.

#REEDR — Reeder Technology (-39%)

Reeder, which attracted investor interest during the IPO process, was unable to perform expected in marketing and distribution channels, although it stood out for domestic smart device production. The contraction in the consumer electronics sector, high competition and shortcomings in the branding process have depressed the company's revenue structure. The decline in gross profit margins and the rise in inventory costs caused investors to move away from the sharer.

#OBAMS — Oba Pasta (-36%)

Known for its strong production capacity in the staple food sector, Oba Pasta had to contend with rising agricultural inputs and logistical costs in 2025. Although the company's export-oriented revenue model partially benefited from exchange rate fluctuations, this advantage was offset by cost increases. The stock, which had a high post-IPO valuation, went into a bearish process with balance sheet data that did not meet expectations.

#YEOTK — Yeo Technology (-33%)

Yeo Technology, which stands out for its energy infrastructure projects, experienced temporary imbalances in its cash flow due to the spread over term of revenues from ongoing projects in the public and private sectors in 2025. The company's need for additional financing to continue its growth and delays in some projects have led to fluctuations in the share price. Investors continue to monitor the company's sector position in the medium and long term, despite short-term pressure.

Points to note

Sharp falls in these stocks are not only a loss write-off for investors, but also important for understanding which business models the market is punishing, how the difference between expectation and reality is reflected in the price. For some stocks, this decline could turn into a bottoming opportunity, while others still face structural risks. Therefore, before price movements business model, financial structure, competitiveness and market perception It must be carefully analyzed.