These were the worst performing ASX 200 shares last week

These ASX 200 shares were sold off last week…

a man clasps his hand to his forehead as he looks down at his phone and grimaces with a pained expression on his face as he watches the Pilbara Minerals share price continue to fall

Image source: Getty Images

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

It was a short week, but a good one for the S&P/ASX 200 Index (ASX: XJO) last week. Over the four days, the benchmark index rose 0.6% to 7,523.4 points.

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

Zip Co Ltd (ASX: Z1P)

The Zip share price was the worst performer on the ASX 200 last week with a 13.4% decline. This may have been driven by news that rival Afterpay, now owned by Block Inc (ASX: SQ2), reported a big first half loss. In addition, analysts at Macquarie Group Ltd (ASX: MQG) spoke negatively about the BNPL industry. According to the note, the broker's data shows that BNPL web traffic declined during March. It feels this is a "red flag for the BNPL industry."

Pilbara Minerals Ltd (ASX: PLS)

The Pilbara Minerals share price was out of form and dropped 7.5% over the period. This appears to have been driven by profit taking after some strong gains in recent months. One broker that sees this pullback as a buying opportunity is Citi. Last week the broker upgraded the company's shares to a buy rating with a $3.60 price target.

City Chic Collective Ltd (ASX: CCX)

The City Chic share price wasn't far behind with a decline of 7.2%. This was despite there being no news out of the plus sized fashion retailer last week. Though, it is worth noting that a disappointing half year result in February has hit investor sentiment hard. So much so, the City Chic share price is now down 46% since the start of the year.

A2 Milk Company Ltd (ASX: A2M)

The A2 Milk share price was a poor performer once again and dropped 7.1% over the four days. Investors were selling the embattled infant formula company's shares after it was recently hit by two broker downgrades. Analysts are concerned over lockdowns in China and weakening reseller prices on Chinese ecommerce platforms. The A2 Milk share price hit a new multi-year low last week.

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 Block, Inc. and ZIPCOLTD FPO. The Motley Fool Australia owns and has recommended Block, Inc. The Motley Fool Australia has recommended A2 Milk. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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 »