5 of Last Week's Biggest Losers
There's never a shortage of losers in the stock market.
Let's take a closer look at five of this past week's biggest sinkers.
|Feb. 24||Weekly Loss||My Watchlist|
|GTx (NAS: GTXI)||$3.43||(41%)||Add|
|US Airways (NYS: LCC)||$6.99||(22%)||Add|
|Celldex (NAS: CLDX)||$3.85||(21%)||Add|
|Yingli Green Energy (NYS: YGE)||$3.82||(19%)||Add|
|GrafTech Int'l (NYS: GTI)||$12.80||(17%)||Add|
GTx was last week's biggest loser, shedding 41% of its value after regulators suspended studies of its once-promising treatment for advanced prostate cancer. GTx clearly had a lot riding on Capesaris.
US Airways led its peers the wrong way down the runway. Investors sold off air carriers as oil prices hit a nine-month high.
Celldex shares took a hit after the biotech upstart completed a secondary offering. Celldex sold 10.5 million shares at $3.85 apiece. That was a healthy discount to where the stock was when the offering was announced, though it happens to be exactly where it closed out the week.
It was a bad week for solar energy stocks, and Yingli Green Energy was one of the many companies in this volatile specialty to post a double-digit percentage decline.
GrafTech slipped after posting uninspiring quarterly results. The electrode maker's revenue of $348 million clocked in well short of the $363 million that Wall Street was targeting. GrafTech's hoping to raise prices to offset declining sales volume, but that's a risky strategy.
Ready for a bounce
It was a rough week for these five stocks. If you want to shake yesterday's losers and ride tomorrow's winners, a new special report reveals Motley Fool's top stock for 2012. It's free, but only for a limited time, so check it out now.
At the time this article was published Longtime Fool contributor Rick Munarriz calls them as he sees them. He does not own shares in any of the stocks in this story. Rick is also part of theRule Breakersnewsletter research team, seeking out tomorrow's ultimate growth stocks a day early.The Motley Fool owns shares of GrafTech International. Try any of our Foolish newsletter servicesfree for 30 days. We Fools may not all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. The Motley Fool has adisclosure policy.
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