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.
Oct. 12 Price
Accuride (NYS: ACW)
Cafe Press (NAS: PRSS)
Green Dot (NYS: GDOT)
Aeterna Zentaris (NAS: AEZS)
Glu Mobile (NAS: GLUU)
Accuride's stock hit an all-time low last week after the maker of commercial vehicle parts hosed down its near-term outlook.
Cafe Press ran dry after the company warned that adjusted EBITDA for the quarter that just ended would come in below its earlier forecast. Cafe Press blames "elevated levels of promotional activity" for the margin-gnawing move. Does this mean that revenue growth will be strong? Not really. Cafe Press is also telling investors that it will come in near the midpoint of its earlier range.
Green Dot investors saw red early in the week after Wal-Mart (NYS: WMT) announced a partnership with American Express (NYS: AXP) to introduce a prepaid debit card service that would compete with Green Dot's flagship plastic.
Aeterna Zentaris was one of the prior week's biggest losers, as well, weighed down by a poorly received one-for-six reverse stock split. Last week it was a dilutive secondary offering that pummeled the stock. Aeterna Zentaris needs to be careful, or it will have to declare another reverse stock split if its stock once again falls below the $1 mark.
Glu Mobile is another repeater on this list. The company tumbled two weeks ago after Zynga (NAS: ZNGA) warned that it would come up short in its latest quarter, sending down other mobile-game developers.
Even though Glu reiterated its own guidance last week, the stock kept tumbling. Insider buying helped trim some of the heavy losses on Friday.
Ready for a bounce
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The article 5 of Last Week's Biggest Losers originally appeared on Fool.com.Rick Aristotle Munarriz has no positions in the stocks mentioned above. The Motley Fool has the following options: short OCT 2012 $55.00 puts on American Express Company, short OCT 2012 $60.00 calls on American Express Company, and long OCT 2012 $65.00 calls on American Express Company. Motley Fool newsletter services recommend American Express Company. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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