4 ASX stocks hammered down by the market today

In what seems a rare occasion these days, the All Ordinaries (Index: ^AORD) (ASX: XAO) has managed to post a 0.2% rise on the ASX today.

But that didn’t help these four stocks, which were heavily sold off…

Education provider Vocation Ltd (ASX: VET) dropped 15.1% to 22.5 cents, and has now lost 89% in the past year. But the market may have oversold the company – as we discussed earlier today. At these prices, the company is trading on just over two times 2015 financial year earnings before interest, tax, depreciation and amortisation (EBITDA), expected to be between $25 million and $30 million. Total market cap is $61 million.

Travel agent Helloworld Ltd (ASX: HLO) sank 11.8% to 30 cents, but shares did jump as much as 50% last week to 39 cents, after the company announced that it had been appointed as the sole provider of travel management services to the Australian government. It may simply be a case of long time shareholders taking the opportunity to jump out of the stock, which once traded above $3.70.

Mining services company Boart Longyear Limited (ASX: BLY) fell 11.1% to 16 cents, after the company said demand for its drilling services was unlikely to rise in the next twelve months. Boart has managed to recapitalise itself, but heavy exposure to copper and gold exploration mean the company is not out of the woods yet. CEO Richard O’Brien says exploration for those two metals continues to dry up.

Junior biotech Novagen Limited (ASX: NRT) dropped 30% to 11.5 cents, after rising 96% yesterday, and adding 63% earlier today. It’s certainly been a rollercoaster for shareholders, after the company announced it had made a breakthrough in the treatment of melanoma, and then capitalising on the rocketing share price, announced a capital raising.

You could argue that the stocks above are fairly speculative - but if you want solid dividends, strong growth and a cheap price, look no further. The Australian Financial Review says "good quality Australian shares that have a long history of paying dividends are a real alternative to a term deposit." Get "3 Stocks for the Great Dividend Boom" in our special FREE report. Click here now to find out the names, stock symbols, and full research for three of our favourite income ideas, all completely free!
I already own two of those stocks in my self-managed super fund - you might want to have a look.

Motley Fool writer/analyst Mike King doesn't own shares in any stocks mentioned. You can follow Mike on Twitter @TMFKinga

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