Investors appear to have well and truly put October's market meltdown behind them judging by the performance of the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) last week. The benchmark index finished the week with a gain of approximately 3.2%.
But not all shares managed to follow the index higher. These five shares were the worst performers on the ASX 200 last week:
Readers will not be surprised to learn that the Corporate Travel Management Ltd (ASX: CTD) share price was the worst performer on the ASX 200 last week with a 26.5% decline. The corporate travel specialist was the target of a short seller report by VGI Partners last weekend. Although the company's response was comprehensive, it hasn't been enough for some shareholders to stick around.
The Ausdrill Limited (ASX: ASL) price was the next worst performer on the index with an 8.2% decline. The diversified mining services company's shares sank lower last week despite completing the acquisition of Barminco and reiterating its underlying earnings growth guidance of 20% to 30% for FY 2019.
The Seven West Media Ltd (ASX: SWM) share price continued its poor run and fell a further 6.2% last week. The media company's shares have now fallen as much as 24% in the space of just one month. Media shares have come under significant selling pressure since the release of a disappointing update from Nine Entertainment Co Holdings Ltd (ASX: NEC) last month.
Not far behind Seven West Media was the InvoCare Limited (ASX: IVC) share price. The funeral company's shares were the fourth-worst performer on the index with a decline of 4.2%. Its shares benefitted last month when investors sought low risk options during the market meltdown. So with investors now back in risk-on mode, they appear to be selling shares and moving on again.
And last but not least, the Viva Energy REIT Ltd (ASX: VVR) share price makes the list with its 3.7% decline. It looks as though investors may be concerned that sky high high petrol prices could be impacting the performance of the REIT's petrol stations and convenience stores.
