It was a tough month for the S&P/ASX 200 Index (ASX: XJO) in February. The benchmark index was rattled by rising interest rates and lost 2.9% of its value to end at 7,258.4 points.
While a number of ASX 200 shares dropped with the market, some recorded particularly large declines. Here's why these were the worst performing ASX 200 shares in February:
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Domino's Pizza Enterprises Ltd (ASX: DMP)
The Domino's share price was easily the worst performer during the month with a disappointing 34% decline. Investors were hitting the sell button in a panic after the pizza chain operator's recovery suddenly faltered. Domino's has been struggling with inflationary pressures. Late last year it appeared to indicate that it had overcome these challenges, but its results showed that this isn't the case.
St Barbara Ltd (ASX: SBM)
The St Barbara share price was out of form and sank 28% in February. A poor month for the gold price and a poor result weighed heavily on its shares. In respect to the latter, the gold miner reported a 52% decline in gross profit to $70 million and a statutory loss of $407 million. The statutory loss includes the non-cash impairment of its Atlantic and Simberi operations.
Lake Resources N.L. (ASX: LKE)
The Lake Resources share price wasn't far behind with a 24% decline last month. The heavily shorted lithium share was sold off in February amid concerns over the price of the battery making ingredient. With spot prices continuing to soften, investors appear to be worried that Lake will miss out on the sky high prices when/if it eventually becomes a producer.
AMP Ltd (ASX: AMP)
The AMP share price was sold off in February and lost 23% of its value. This was driven by the release of financial services company's half year results. AMP reported a 34% decline in underlying net profit after tax to $184 million. This was due to investment market volatility, strategic repricing in the wealth management businesses, and a reduction in the net interest margin.
