It was another positive week for the S&P/ASX 200 Index (ASX: XJO). The benchmark index continued its impressive run and climbed 0.2% or 16.9 points to end the period at 7,312.3 points.
Unfortunately, not all shares climbed higher with the market. Here’s why these were the worst performers on the ASX 200 last week:
NRW Holdings Limited (ASX: NWH)
The NRW share price was the worst performer on the ASX 200 last week with a 7.4% decline. This was despite there being no news out of the mining services company during the period. However, tough trading conditions have been weighing on the company’s shares this year. So much so, the NRW share price is now down by almost 50% since the start of the year.
HUB24 Ltd (ASX: HUB)
The HUB24 share price was out of form and tumbled 6.4% lower over the five days. Once again, this was despite there being no news out of the investment platform provider. However, with the HUB24 share price up 19% year to date even after this decline, this weakness could have been driven by profit taking from some investors.
Corporate Travel Management Ltd (ASX: CTD)
The Corporate Travel Management share price was the next worst performer with a 6.4% decline. This may have been driven by concerns over the stuttering travel market recovery from the pandemic. Particularly given the recent lockdowns in Victoria and border closures. In addition to this, with the Corporate Travel Management share price still up over 21% since this time last month, profit taking could also be weighing on its shares.
Virgin Money UK (ASX: VUK)
The Virgin Money UK share price was a poor performer and fell 5.1% during the five days. This was despite there being no news out of the UK based bank. Though, last month analysts at Morgans downgraded the company’s shares to a hold rating with a $3.45 price target. It appears to believe its shares are fully valued at the current level.