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.
NuPathe (NAS: PATH)
Velti PLC (NAS: VELT)
Jinko Solar (NYS: JKS)
Trina Solar (NYS: TSL)
AuRico Gold (NYS: AUQ)
Heads were throbbing at NuPathe after the company failed to garner FDA approval for its migraine patch. Lazard Capital Markets downgraded the stock on the news, surprised that NuPathe's Zelrix didn't clear the necessary regulatory hurdle.
Velti got another welt. Things haven't gone well for Velti since it successfully completed a secondary offering at $15.25 three months ago. Is it that the company hails from Dublin at a time when investors are steering clear of Irish stocks until there is clearer visibility on that country's financial crisis? Is it that Velti's niche -- providing mobile marketing services to carriers -- is a specialty that imploded when Motricity (NAS: MOTR) crumbled last month? There was no material news on Velti last week. It just happens to be at the wrong place in the wrong place.
Jinko Solar and Trina Solar fell, so you know it wasn't a good week for solar energy stocks. Prices continue to fall for solar-grade polysilicon and finished photovoltaic panels. This may seem like good news in terms of making solar energy more cost effective as a clean energy source, but right now it's really more a response to waning global demand.
Everybody loves gold these days, but the market feels that AuRico Gold is paying too much for Northgate Minerals (ASE: NXG) . Gold plays are hot, but Northgate may not be worth the 45% market premium that AuRico is looking to dish out.
It was a rough week for these five stocks. Let's see if they bounce back.
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, except for Motricity. Rick is also part of theRule Breakersnewsletter research team, seeking out tomorrow's ultimate growth stocks a day early.
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