MENU

These 3 ASX shares just crashed to 52-week lows

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.

I think shareholders of the shares above ought to consider selling their shares and buying these hot growth stocks instead.

Top 3 ASX Blue Chips To Buy In 2018

For many, blue chip stocks mean stability, profitability and regular dividends, often fully franked..

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool's in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool's Top 3 Blue Chip Stocks for 2018."

Each one pays a fully franked dividend. Each one has not only grown its profits, but has also grown its dividend. One increased it by a whopping 33%, while another trades on a grossed up (fully franked) dividend yield of almost 7%.

The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand - and how quickly the share prices of these companies moves - we may be forced to remove this report.

Click here to claim your free report.

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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.