These were the worst performing ASX 200 shares last week

These ASX 200 shares were out of form last week…

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The S&P/ASX 200 Index (ASX: XJO) was only open for three days last week but that didn’t stop it from recording a decent gain. The benchmark index rose 0.3% over the period to end at 7,444.6 points.

Unfortunately, not all shares climbed higher with the market. Here’s why these were the worst performing ASX 200 shares last week:

Clinuvel Pharmaceuticals Limited (ASX: CUV)

The Clinuvel share price was the worst performer on the ASX 200 last week with a decline of 4.3%. This was despite there being no news out of the biopharmaceutical company. However, its shares have come under a spot of pressure recently amid concerns over a new product that is competing with its Scenesse therapy.

Whitehaven Coal Ltd (ASX: WHC)

The Whitehaven Coal share price wasn’t far behind with a decline of 3.7% over the three days. This appears to have driven by a spot of weakness in coal prices. In addition, S&P Global reported that China’s metallurgical coal prices are expected to remain bearish in 2022. Industry sources have suggested that demand will fall 2.9% below 2021 levels.

Afterpay Ltd (ASX: APT)

The Afterpay share price continued its poor run and dropped 3.5% over the period. This has been driven by sustained weakness in the Square share price on Wall Street. As shareholders have voted in favour of Square’s all-scrip takeover deal, the value of the transaction rises and falls with its share price. The Afterpay share price ended the year 30% lower despite the takeover.

Stockland Corporation Ltd (ASX: SGP)

The Stockland share price was out of form and dropped 3% last week. However, this decline was driven largely by the property company’s shares going ex-dividend for its 12 cents per share interim dividend. Eligible shareholders can now look forward to being paid this dividend in around eight weeks on 28 February.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns and has recommended Afterpay Limited. The Motley Fool Australia owns and has recommended Afterpay Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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