These 3 ASX shares just crashed to 52-week lows

The Yowie Group Ltd (ASX:YOW) share price is one of three crashing to a 52-week low on Wednesday…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

With the market sinking lower, earnings season in full swing, and high levels of volatility being experienced, it will come as no great surprise to learn that a number of shares have sunk to 52-week lows recently.

Three shares which are at 52-week lows or worse today are listed below. Here's why they are down in the dumps:

The Freelancer Ltd (ASX: FLN) share price tumbled 18% to an all-time low of 31 cents this morning despite there being no news out of the freelancing and crowdsourcing marketplace operator. Investors have been selling their shares in a hurry ever since the company released its latest quarterly update at the end of January. That update revealed that gross payment volumes for the year came in at $588 million, a decline of 12.8% year-on-year. Management has blamed its decline on the negative impact that the introduction of its 1-click funnel for posting projects has had. While management believes it has moved on from this issue now, I'm still reasonably sceptical that the company will ever been as profitable as once hoped.

The PMP Limited (ASX: PMP) share price tumbled 26% to a multi-year low of 35 cents this afternoon. Investors have headed to the exits in their droves today after the printing company revised its full-year EBITDA guidance following a weaker-than-expected first-half performance. According to the release, PMP's revised EBITDA guidance for FY 2018 is now $40 million to $45 million pre-significant items. This compares to its previous guidance of $50 million to $55 million, which itself was downgraded in November from the range of $70 million to $75 million. I have little confidence that the company will achieve its newly revised guidance, so would suggest investors stay clear of its shares.

The Yowie Group Ltd (ASX: YOW) share price fell to a multi-year low of 11.5 cents today. The embattled confectionery company came under fire from disgruntled shareholders following yet another guidance downgrade. Due to heightened competition in the United States during the third-quarter, management expects sales to be flat year-on-year. Less than six weeks ago the company downgraded its sales guidance from 55% to 17% and just three weeks ago this was reaffirmed. The company has a long history of failing to meet its guidance, making it uninvestable and a share that should be avoided at all costs in my opinion.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on ⏸️ Investing

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
⏸️ Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
⏸️ Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

Two people in suits arm wrestle on a black and white chess board.
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
⏸️ How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »

⏸️ Investing

Why Fox (NASDAQ:FOX) might hurt News Corp (ASX:NWS) shareholders

News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January

Read more »