The ASX All Ordinaries (Index: ^AORD) (ASX: XAO) has dropped for the third consecutive day, losing 0.2%.
Still, it wasn't as bad as these four, which saw their share prices hammered…
McAleese Ltd (ASX: MCS) slides 15.6% to 20.5 cents, despite no news from the company. You would've thought that the sliding oil price was a positive for McAleese, but it appears to have had no effect on the transport group's shares. Shares in the company which owns troubled transport business Cootes, have fallen 42% in the past month. Even at these prices, Foolish investors may want to avoid this company.
BC Iron Limited (ASX: BCI) loses 8.8% to 36.5 cents. The beleaguered iron ore miner has seen its shares drop 21% in the past week alone, and the company is now heavily focused on drastically cutting costs out of its business. Yesterday the miner said it estimated that all in cash costs for the rest of this financial year would be between $54 and $61 per wet metric tonne. The question is, does that include ALL costs? We don't think so, and wonder if the company is currently operating at a loss.
Cedar Woods Properties Limited (ASX: CWP) fell 6.7% to $5.83. The Western Australian focused property developer has recently expanded into Queensland, developing a master planned community of around 1,000 lots, over 227 hectares. Earlier this week the company also announced that its Williams Landing shopping centre in Victoria had opened for business. With positive news like that, it's hard to see why shares were sold off today.
Lynas Corporation Ltd (ASX: LYC) falls 6.3% to 4.5 cents. The rare earths producer just seems to see its shares go from worse to worse. Today the company was forced to respond to an ASX speeding ticket, after shares fell from 5.5 cents on Monday, to as low as 4 cents earlier today. Investors appear concerned over the company's cash balance, and whether it will be able to survive. Until rare earths prices rise to much higher levels, Lynas will be going backwards.