The S&P/ASX 200 Index (ASX: XJO) was in fine form in January, starting the year with a monthly gain of approximately 6.2%.
Unfortunately, not all ASX 200 shares were able to follow the market's lead. Here's why these shares were smashed last month:
Brainchip Holdings Ltd (ASX: BRN)
The Brainchip share price was the worst performer on the ASX 200 index by some distance with a 15.5% decline. Investors were selling this semiconductor company's shares after it raised capital and released yet another poor quarterly update. Investors finally appear to be questioning whether the meme stock is deserving of a $1.1 billion market capitalisation given its performance and the incredible competition it faces.
Whitehaven Coal Ltd (ASX: WHC)
The Whitehaven Coal share price was out of form and dropped 10.8% last month. Easing thermal coal prices appear to be the reason for the weakness in this coal miner's shares in January. This offset the release of a solid quarterly production update. Longer term shareholders won't be too disappointed, though. The Whitehaven Coal share price is still up 200% since this time last year despite this decline.
Computershare Limited (ASX: CPU)
The Computershare share price wasn't far behind with a 9.4% decline in January. This was despite there being no news out of the administration services company during the month. However, it is worth noting that easing inflation led to the market revising its interest rate expectations lower. Computershare looks set to benefit greatly from higher rates.
Incitec Pivot Ltd (ASX: IPL)
The Incitec Pivot share price had a disappointing month and dropped 8.5% over the period. While there were no announcements out of Incitec Pivot in January, softening ammonia prices may have been the reason for the weakness in the industrial chemicals company's shares.
