As of yesterday's close the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) had managed to gain a paltry 1.6% year-to-date.
As disappointing as this gain might be compared to international markets, things certainly could be worse. For example, the three shares below have been absolutely crushed this year. Here's why:
The Ardent Leisure Group (ASX: AAD) share price has fallen 27% this year following a weaker-than-expected half-year result, largely due to the tragic accident at its Dreamworld theme park last year. The entertainment company reported a first-half loss of $49 million, down from a profit of $22.7 million during the prior corresponding period. Falling visitor numbers and asset write-downs were behind the shock result. But with visitor numbers improving and its explosive Main Event business in the United States growing strongly, I think it could be worth taking a closer look at Ardent Leisure now.
The Aconex Ltd (ASX: ACX) share price has dropped a massive 30% in 2017. The sell-off came after management disappointingly downgraded its full-year revenue guidance to between $160 million and $165 million from $172 million to $180 million. Weaker sales in the U.K. and the Americas region were largely to blame. Whilst I think the exciting tech company is a great buy and hold investment option, the recent spike in short interest is a bit of a concern.
The Orocobre Limited (ASX: ORE) share price has tumbled almost 39% in 2017 thanks to a surprise revision to the lithium miner's full-year production guidance. Due to inventory management requirements, production guidance has been revised down to between 12,000 and 12,500 tonnes of lithium carbonate. Previous guidance was set at 15,000 tonnes. This is being done to allow the desired grade and inventory profile to be achieved. Whilst management plans a significant increase in production next year, I'm a touch sceptical at this point in time. Because of this my preferred choice in the industry remains Galaxy Resources Limited (ASX: GXY).
