Falcon's Beyond Global, Inc Class A Common Stock (FBYD) had the lowest return in 2023 by a small-cap US stock, returning -99.6%.

ASSET	YEAR	% RETURN
Falcon's Beyond Global, Inc Class A Common Stock (FBYD)	2023	-99.64%
Avalo Therapeutics (AVTX)	2023	-99.25%
Eightco (ORBS)	2023	-94.56%
Aclaris Therapeutics (ACRS)	2023	-93.41%
Ventyx Biosciences (VTYX)	2023	-92.54%
Better Home & Finance (BETR)	2023	-91.9%
Alliance Entertainment Holding Corporation Class A Common Stock (AENT)	2023	-90.88%
Nutex Health (NUTX)	2023	-90.63%
NovaBay Pharmaceuticals (NBY)	2023	-90.48%
Strive Asset Management (ASST)	2023	-89.13%
Here (HERE)	2023	-88.61%
QuantaSing Group Limited American Depositary Shares (QSG)	2023	-88.61%
Arqit Quantum (ARQQ)	2023	-86.87%
Monopar Therapeutics (MNPR)	2023	-86.29%
AMC Entertainment (AMC)	2023	-85.22%
SEALSQ (LAES)	2023	-84.94%
Meihua International Medical Technologies (MHUA)	2023	-82.36%
Palvella Therapeutics (PVLA)	2023	-81.8%
Emergent Biosolutions (EBS)	2023	-80.1%
Vertical Aerospace (EVTL)	2023	-79.94%
Enanta Pharmaceuticals (ENTA)	2023	-79.86%
Novocure (NVCR)	2023	-79.86%
Canopy Growth (CGC)	2023	-78.44%
Uxin (UXIN)	2023	-76.08%
Intuitive Machines (LUNR)	2023	-75.78%

Small-cap stocks are treated as having a market cap between $300M and $2B.