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4 ASX stocks hammered down today

The All Ordinaries (IndexASX: XAO) (ASX: XAO) Index has dropped 0.5% to 5,788 today, despite US markets rallying overnight.

Every stock in the S&P/ASX 20 fell into the red, led by Santos Limited (ASX: STO) and AMP Limited (ASX: AMP), down 2.6% and 2.4% respectively.

Still, that wasn’t as bad as these four…

Medical Developments International Ltd (ASX: MVP) (“MDI”) fell 5.2% to $2.17, although the company’s shares are up by more than 80% in the past six months. We covered MDI in more detail here, and I nominated it as one of 9 juicy health care stocks to add to your portfolio earlier this month. Sales of the company’s products are soaring and a pullback could be a perfect opportunity to add to your portfolio.

Clinuvel Pharmaceuticals Limited (ASX: CUV) dropped 4.4% to $3.25. Clinuvel is developing drugs that focus on treatment of severe skin disorders. The company’s Scenesse received European Medicines Agency approval in December year, and distribution to 31 countries is expected to start throughout this year. Clinuvel shares are up 108% over the past year.

Alexium International Group Limited (ASX: AJX) dipped 4.3% to 66.5 cents. The company is developing flame retardant treatments for synthetic fabrics amongst other technology. Last week the company reported to shareholders that it expects to begin its US listing process by the end of this month and announced the signing of another commercial contract. Still, with the shares up 313% in the past six months, a little volatility is to be expected.

Last but not least, rare earths producer Lynas Corporation Limited (ASX: LYC) fell 3.9% to 4.9 cents. The company posted a loss of $103.5 million in its half-yearly report today, despite revenues jumping more than four-fold. The problem is that production costs are way higher than current rare earths prices (as we highlighted again in September 2014), and as such Lynas is unlikely to be able to meet it debt repayments in March 2016.

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

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