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.
Let's start with Organovo. After four consecutive weeks of double-digit percentage gains -- capped off by a 52% surge last week alone after providing an upbeat business update -- Organovo proved mortal. There was no negative news to bring the stock lower, but after a torrid run over the past month, it's not a surprise to see it correcting. The 3-D bioprinting star is hoping to generate human tissue that could be used to speed up clinical drug trials. It's still on track to hit the market with a liver toxicity test -- its first commercial product -- next year. As brutal as a 27% drop may seem, it's still trading well above where it was two weeks ago.
Bazaarvoice stumbled after posting quarterly results. The provider of social commerce software offered up uninspiring guidance. It also surprised investors by announcing that its CEO is leaving the company.
Qunar shares went into a descending pattern after the company behind the fast-growing travel platform in China posted its first quarterly results as a public company. The numbers seem solid at first glance. Revenue climbed 58% for the period, and Qunar's guidance calls for growth to accelerate with at least 60% in year-over-year growth for the current quarter. Mobile usage skyrocketed, a metric that's growing more and more important to track these days. However, the market was holding out for more after the stock's successful IPO.
SolarCity stumbled after an Alabama senator sent a letter to Treasury Secretary Jacob Lew questioning the taxpayer-funded grants the solar-panel installer reportedly was receiving. SolarCity's stock was roaring through most of 2013, as the Elon Musk-fronted company grew popular with its 20-year residential solar energy leases. Its lack of profitability has made it vulnerable after its most recent run.
Model N wasn't a model citizen after the provider of revenue management solutions for the high-tech and medical industries posted quarterly results. The market was initially impressed by its better-than-expected results -- sending the shares initially higher -- but then the focus became its weak guidance on the bottom line. Model N is now projecting a much steeper loss for the fiscal year that started last month. Model N was a hot IPO when it went public at $15.50 earlier this year, but now it has surrendered half of its value.
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The article 5 of Last Week's Biggest Losers originally appeared on Fool.com.Longtime Fool contributor Rick Munarriz has no position in any stocks mentioned. The Motley Fool recommends and owns shares of SolarCity. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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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