The month of June was an incredibly mixed one for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). After a seemingly endless number of ups and downs, the index finished the month flat at 5,717 points.
Whilst some shares managed to climb higher regardless, others weren't quite so lucky. The three shares below were amongst the worst performers. Will they bounce back in July?
The Aconex Ltd (ASX: ACX) share price fell almost 13% in June. This means the software-as-a-service company's shares have lost almost a quarter of their value since the middle of May. I suspect this decline is a combination of profit taking after a strong rally and nerves ahead of confessions season. Whilst the company has unfortunately gained a reputation for earnings guidance downgrades, it wasn't too long ago that management reiterated its full-year guidance. As a result, I would be very surprised to see it fall short of expectations during the first-half. This could make it an opportune time to pick up shares at a cheaper price in July.
The Amaysim Australia Ltd (ASX: AYS) share price tumbled 18% last month. The key catalyst for this decline was news that managing director and CEO Julian Ogrin offloaded 833,605 of his shares for just short of $1.6 million. According to the release, he sold the shares in order to meet his expected tax obligations. Despite his reasons, investors seldom respond well to directors selling shares. Whilst this could arguably mean its shares are a bargain buy now, as a rule I try to stay away from companies which have high levels of insider selling. Instead, I would rather invest in companies which have insiders buying shares.
The Galaxy Resources Limited (ASX: GXY) share price fell 27% in June following a broad sell-off of the lithium miners. Concerns over the impact that the additional supply from Mineral Resources Limited (ASX: MIN) would have on lithium prices appear to be behind the sell-off. But with several insiders buying shares and positive broker reports labelling the lithium miner as a buy, I believe Galaxy could bounce back strongly in July. This could make it an opportune time for investors with a high risk tolerance to snap up shares.