These were the worst performers on the ASX 200 last week

These ASX 200 shares were sold off last week…

| More on:

Image source: Getty Images

Although the S&P/ASX 200 Index (ASX: XJO) recorded a strong gain on Friday, it wasn’t enough to stop a sizeable decline over the five days. The benchmark index fell 1.8% to 7,075.1 points.

While a good number of shares dropped with the market, some fell more than most. Here’s why these were the worst performers on the ASX 200 last week:

Chalice Mining Ltd (ASX: CHN)

The Chalice Mining share price was the worst performer on the ASX 200 last week with a 24.5% decline. This appears to have been driven by the market volatility and weakness in a number of commodity prices. This includes nickel and copper, which are down 15% and 11%, respectively, since this time last month. Chalice has exposure to these metals at its Julimar Nickel-Copper-PGE Project.

Novonix Ltd (ASX: NVX)

The Novonix share price wasn’t far behind with a 20.5% decline. This is despite there being no news out of the battery technology company. However, a number of battery materials shares came under pressure last week as investors reduced their exposure to higher risk investments. This decline means the Novonix share price has now lost approximately two-thirds of its value in 2022.

Block Inc (ASX: SQ2)

The Block share price was out of form and dropped 19.6% over the five days. This followed a sharp decline by the payments giant’s NYSE listed shares. Investors were selling Block’s shares amid weakness in the tech sector, a significant drop in the bitcoin price, and the release of several less-than-bullish broker notes.

IGO Ltd (ASX: IGO)

The IGO share price was a poor performer and dropped 12.8% last week. This appears to have been driven by the aforementioned pullback in commodity prices and a sell down of battery materials shares. IGO’s operations have exposure to nickel and lithium.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of January 12th 2022

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. has positions in and has recommended Block, Inc. The Motley Fool Australia has positions in and has recommended Block, Inc. 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

Rede arrow on a stock market chart going down.
Share Fallers

Why the Integrated Research share price is cascading 15% today

Clouds gather around Integrated Research amid latest trading update.

Read more »

Red arrow going down, symbolising a falling share price.
Share Fallers

Why Imugene, Integrated Research, Monash IVF, and Step One shares are sinking

These ASX shares are falling on Monday...

Read more »

a woman holds her hands to her temples as she sits in front of a computer screen with a concerned look on her face.
Share Fallers

Why A2 Milk, Gold Road, GrainCorp, and Monash IVF shares are dropping

These ASX shares are falling on Friday...

Read more »

a sad looking engineer or miner wearing a high visibility jacket and a hard hat stands alone with his head bowed and hand to his forehead as he speaks on a mobile telephone out front of what appears to be an on site work shed.
Share Fallers

Why is the CSR share price lagging the ASX 200 on Friday?

The building products manufacturer has had a difficult year so far in 2022.

Read more »

A group of disappointed board members.
Technology Shares

Why is the Novonix share price down 9% today?

Novonix extends its time in the red today, adding to already heavy losses in 2022.

Read more »

Red arrow going down on a stock market table which symbolises a falling share price.
Share Fallers

Why Block, IDP Education, Monash IVF, and Xero shares are dropping

These ASX shares are falling hard on Thursday...

Read more »

Red arrow going down symbolising a falling share price.
Broker Notes

Why is the CSR share price plunging 9% today?

The broker's have weighed in with their opinions after CSR's earnings yesterday.

Read more »

Sad investor watching the financial stock market crash on his laptop computer.
Resources Shares

Why has the Australian Vanadium share price crashed 31% in a month?

Australian Vanadium shares are falling out of the sky. What's gone wrong?

Read more »