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 RF Industries. The maker of RF connectors, coaxial and custom cable assemblies, fiber optic cables, wiring harnesses, and medical wiring products plunged on Friday after posting a disappointing business update. RF Industries reported that unaudited revenue for its latest quarter declined 9%.
Ctrip slipped on reports that rivals are starting to gain ground on China's leading online travel portal. Ctrip shares more than doubled in 2013, so a little breather is understandable, even if the stock has done nothing but blow Wall Street's profit targets away over the past year.
Myriad Genetics took a hit after the Centers for Medicare and Medicaid Services proposed slashing its Medicare reimbursement rate on Myriad's BRACAnalysis gene by nearly half.
Inovio Pharmaceuticals kicked off the trading week by nearly hitting a fresh 52-week high, but it fell out of favor as investors began to take profits. Inovio shares popped nearly sixfold in 2013, as investors rallied behind the synthetic-vaccine maker with potentially promising drugs aiming at prostate and liver cancer. Just as Ctrip lost ground, it's not a surprise when some of a year's biggest winners pull back as the next year begins. Taking profits and pushing out taxable gains a year makes sense.
Finally we have Angie's List taking a hit after another class action lawsuit emerged, once again accusing the premium online provider of local service reviews of improprieties.
Ready for a bounce
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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 Ctrip.com International. 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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