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.
Questcor (NAS: QCOR)
RadioShack (NYS: RSH)
Atmel (NAS: ATML)
GT Advanced Technologies (NAS: GTAT)
VIVUSÂ (NAS: VVUS)
Questcor Pharmaceuticals was NASDAQ's biggest loser two weeks ago, and it's back for a repeat performance. You don't often see a stock take a 40% hit one week and come right back for a 39% smackdown the following week, but Questcor managed it.
Questcor's original slide came after a major health insurer decided to no longer cover the drug company's flagship drug as a treatment for multiple sclerosis. This past week kicked off with another sharp loss after an SEC filing disclosed that the U.S. government is looking into Questcor's promotional practices. Initiating a dividend policy helped, but it wasn't enough.
RadioShack was unplugged by Mr. Market after losing its CEO. Given the stock's horrific run under his tenure, one would think that investors would appreciate some new blood, but now the question becomes the challenge of finding someone willing to take on the troubled retailer.
Atmel shares were tripped up after a UBS analyst downgraded the maker of microcontrollers.
GT Advanced Technologies sank after a Canaccord Genuity analyst downgraded the stock, slashing his price target on the company from $9 to $6. The analyst fears that GT Advanced Technologies isn't making enough headway in its scratch-proof sapphire cover glass in smartphones and cameras.
Vivus lost some weight after revealing that the company's weight loss drug -- Qsymia -- will probably be turned down by the European Medicines Agency.
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 owns shares of RadioShack. 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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