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5 ASX stocks smashed by the market today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has had a rollercoaster day, and has closed up 0.1%.

By contrast, these five stocks have been crushed by the market. Here’s our view…

Central West Gold N.L. (ASX: CWG), a tiny gold, copper and tin explorer has seen its share price drop by 28.6% to 10 cents. But shares in the company have risen 75% since the beginning of the year, including today’s fall. Shareholders may have been spooked by director Arthur Reynolds’ recent small sale of shares, but he does still hold more than 6 million shares.

CML Group Ltd (ASX: CGR) shares have dropped 12.2% to 18 cents. Formerly known as Careers MultiList, CML provides services to recruitment agencies, including contract management and payroll, workforce management, working capital and business development and back office support. Recently the company noted that it was experiencing strong growth in the first quarter of 2015 financial year, but it seems investors are not impressed.

iBuy Group Ltd (ASX: IBY), an online Asia-Pacific retailer has seen its shares lose 3.2% to 15 cents, continuing recent falls. Shares in the company have lost 35% since last week, despite the company announcing that October was the single highest gross turnover and cash collection month in its history, while July and September were also strong.

Impedimed Limited (ASX: IPD) have dropped 7.9% to 70 cents, but shares have soared 47% in the last two days, including today’s losses. Yesterday the health care technology company announced that US Medicare and Medicaid will reimburse physicians and hospitals for Impedimed’s L-Dex procedure from January 1, 2015. CEO Richard Carreon says it is a major reimbursement milestone and should provide greater access for patients, and drive market adoption of L-Dex.

Construction and engineering firm Watpac Limited (ASX: WTP) shares have lost 6.3% to close at 74 cents, and have now lost 20% in the past month. Yesterday the company announced that it was an unsecured creditor to iron ore miner Pluton Resources Limited (ASX: PLV), which has appointed receivers. Watpac’s expected $50-$60 million in revenues from Pluton’s Cockatoo Island project now appear to be very much in doubt.

Man who said buy Kogan shares at $3.63 says buy these 3 ASX stocks now

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In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.

*Returns as of 6/8/2020

Motley Fool writer/analyst Mike King owns shares in any companies mentioned. You can follow Mike on Twitter @TMFKinga

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