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.
Trina Solar (NYS: TSL)
Star Scientific (NAS: STSI)
DryShips (NAS: DRYS)
McEwen Mining (NYS: MUX)
Molycorp (NYS: MCP)
Trina Solar went down like the sun after the Chinese solar-panel maker hosed down its guidance, blaming lower shipments on the ominous one-two punch of oversupply and lower prices.
Star Scientific got lit up after the smokeless-tobacco company revealed that it may run out of money by early next year after a drawn-out legal battle only awarded the company $5 million. The stock made up some of the ground it lost on Friday after its CEO and some shareholders invested $20 million in the company, but it wasn't enough to overcome the slide earlier in the week.
DryShips sank after posting a much wider deficit than Wall Street was expecting. The shipper's revenue may have risen a better-than-expected 8% during the quarter, but the news on the bottom line -- a loss of $0.13 a share -- was more red ink than the $0.02 per-share deficit the pros were targeting.
Despite starting off the week by announcing a settlement with TNR Gold that resolves all outstanding litigation involving a copper project in Argentina, McEwen Mining's stock still took a hit alongside many other metal miners.
Molycorp tumbled 21% two weeks ago after revealing a formal SEC investigation into the company's public disclosures. The news for the rare-earth minerals specialist didn't get any better last week, as Morgan Stanley downgraded the already battered stock on probe concerns.
Ready for a bounce
It was a rough week for these five stocks, but there are opportunities out there.
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The article 5 of Last Week's Biggest Losers originally appeared on Fool.com.Longtime Fool contributor Rick Aristotle Munarriz has no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above. 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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