These were the worst-performing shares on the ASX 200 last week

The Vocus Group Ltd (ASX:VOC) share price was one of the worst performers on the ASX 200 last week. Here's why…

| 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

The S&P/ASX 200 index bounced back from a disappointing start to the week to record a gain of 0.7% last week.

Unfortunately, not all shares on the index were able to follow the market higher. Here's why these shares were the worst performers on the ASX 200 last week:

The Syrah Resources Ltd (ASX: SYR) share price was the worst performer on the ASX 200 last week with a decline of 20%. One of the catalysts for the graphite miner's sizeable decline was its second quarter production guidance downgrade. According to the release, management expects production in the current quarter to be in the range of 45kt to 50kt, compared to its previous guidance of 50kt to 55kt. It also advised that quarter-to-date, its weighted average price received is US$466 per tonne, down from an average of US$469 per tonne in the prior quarter.

The Vocus Group Ltd (ASX: VOC) share price wasn't far behind with a decline of 16.5% over the period. The telco company's shares were sold off early in the week after it revealed that takeover discussions with EQT Infrastructure had been terminated. The company revealed that after an accelerated period of due diligence, EQT decided not to proceed with its $5.25 cash per share offer.

The Bravura Solutions Ltd (ASX: BVS) share price fell by a sizeable 13.5% last week. Its shares came under pressure after a profit upgrade by takeover target GBST Holdings Limited (ASX: GBT) sent its share price notably higher than Bravura's offer price. This is likely to mean that Bravura will either have to lift its offer considerably or pull out of the deal.

The Resolute Mining Limited (ASX: RSG) share price tumbled almost 9.5% over the period. The majority of this decline came on Friday when the gold miner's shares inexplicably dropped almost 8%. Resolute has been a very disappointing performer in 2019 despite the gold price climbing notably higher. Its shares are down 11% year to date compared to the S&P/ASX All Ords Gold index which is up 14% in 2019.

 

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Bravura Solutions Ltd. The Motley Fool Australia has recommended Bravura Solutions Ltd. 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 Scott Phillips.

More on Share Fallers

A young man clasps his hand to his head with his eyes closed and a pained expression on his face as he clasps a laptop computer in front of him, seemingly learning of bad news or a poor investment.
Share Fallers

Why Burgundy Diamond Mines, Clarity Pharmaceuticals, EML, and Zip are sinking today

These ASX shares are ending the week in the red. But why?

Read more »

A worried man holds his head and look at his computer.
Share Fallers

Why 29Metals, Brainchip, Platinum, and Premier Investments shares are falling today

These ASX shares are having a tough time on hump day.

Read more »

Man with his head in his head because of falling share price.
Share Fallers

Why 29Metals, Atlas Arteria, IDP Education, and Mineral Resources shares are falling

These ASX shares are having a tough time on Tuesday. But why?

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why ALS, EOS, NRW, and Patriot Battery Metals are dropping today

These ASX shares are starting the week in the red.

Read more »

A man looking at his laptop and thinking.
Technology Shares

Why are these ASX tech shares getting smashed today?

Owners of these two stocks are missing out today.

Read more »

a man weraing a suit sits nervously at his laptop computer biting into his clenched hand with nerves, and perhaps fear.
Share Fallers

Why AGL, Brickworks, IGO, and New Hope shares are dropping today

These ASX shares are having a poor session. But why?

Read more »

Frustrated stock trader screaming while looking at mobile phone, symbolising a falling share price.
Share Fallers

Why Amcor, Arafura, Brainchip, and South32 shares are tumbling today

These ASX shares are having a tough time on hump day. But why?

Read more »

A young woman holds an open book over her head with a round mouthed expression as if to say oops as she looks at her computer screen in a home office setting with a plant on the desk and shelves of books in the background.
Share Fallers

Why Aussie Broadband, Liontown, Metals Acquisition, and Seek shares are falling

These ASX shares are having a poor session. But why?

Read more »