The S&P/ASX 200 index was on form for most of February and even climbed to a record high. But due to a selloff late in the month amid concerns over the coronavirus outbreak, the benchmark index ended up giving back its gains and falling 8.2% in February.
Whilst a large number of shares tumbled lower last month, some fell more than most. The worst performing ASX 200 shares in February are listed below:
The WiseTech Global Ltd (ASX: WTC) share price was the worst performer on the ASX 200 by some distance in February with a decline of 39.2%. Investors were selling the logistics solutions company's shares following the release of its half year results. Although WiseTech delivered solid profit growth during the first half, it was forced to downgrade its guidance due to the impact of the coronavirus outbreak. WiseTech was previously expecting full year EBITDA growth of 34% to 42%. But the coronavirus outbreak means it now expects growth of just 5% to 22%.
The CLINUVEL Pharmaceuticals Limited (ASX: CUV) share price wasn't far behind with a massive 35.8% decline last month. The catalyst for this appears to have been the release of the biopharmaceutical company's underwhelming half year results. Those results revealed a sharp decline in profits despite some solid top line growth. CLINUVEL reported a 74% decline in net profit after tax to $1.06 million. Management blamed this on its heavy investment in key areas of the business to support its growing activities.
The Beach Energy Ltd (ASX: BPT) share price was out of form and tumbled 34.1% lower in February. This selling was triggered by a collapse in oil prices and the release of the energy producer's half year update. Although Beach delivered strong underlying earnings in the first half, its outlook for the second half spooked investors. Beach lowered its FY 2020 production guidance to between 27 MMboe and 28 MMboe. Management also warned of lower customer demand.
The EML Payments Ltd (ASX: EML) share price was a poor performer in February and recorded a decline of 31%. Investors were selling the payments company's shares following the release of its half year results. Although it delivered stellar earnings growth in the first half, the high-flying payments company downgraded the high end of its full year revenue guidance range. EML Payments now expects revenue in the range of $120 million and $129 million, compared to previous guidance of $116 million and $132 million.
