In what has been another gut-wrenching day for Vocation Ltd (ASX: VET) shareholders, shares of the embattled education provider have plummeted another 44%, dropping from 25 cents to 14 cents, after it updated the market on the state of its business.
And that's not even the worst of it – the stock opened 72% lower at just 7 cents this morning after having resided in a self-imposed suspension from trading for the last five weeks. Today's decline compares to a 0.5% lift for the S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO).
Vocation has issued a number of profit downgrades in recent months after the Victorian Department of Education stripped around $20 million of the company's funding.
If you own shares in the company, you may want to look away now…
Source: Yahoo Finance
While some investors will no doubt jump into the stock in the hope of making a quick buck, Vocation is by no means a stock for the Foolish, long-term investor. Here are three much better stocks you can buy right now…