The S&P/ASX 200 Index (ASX: XJO) gained 2.2% in April, but these four ASX 200 stocks didn't join the party
Below we look at four stocks you would have done well to avoid in the month just past.
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Temple & Webster Group Ltd (ASX: TPW)
On 31 March, Temple & Webster shares closed trading for $7.10. On 30 April, shares in the online furniture and homewares retailer ended the day changing hands for $5.64 each.
That put this ASX 200 stock down 20.6% over the month.
Temple & Webster shares closed down 8.2% on 23 April, after the company announced that its co-founder and CEO Mark Coulter was stepping down to take a position as executive chair. Former senior executive Susie Sugden will take over as CEO on 1 July.
A2 Milk Co Ltd (ASX: A2M)
A2 Milk was another ASX 200 stock best avoided in April.
Shares in the dairy company closed on 30 April trading for $7.08, down 26.0% in the month just past.
A2 Milk shares tumbled 13.0% on 13 April following a disappointing trading update.
Citing significant supply chain disruptions, management reduced the company's fully year FY 2026 profit guidance and revenue growth guidance.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) margin guidance was also lowered to 14.0% to 14.5%, from the prior 15.5% to 16.0%.
Orora Ltd (ASX: ORA)
The third ASX 200 stock turning the calendar page on a month to forget is Orora.
Shares in the global packaging company closed on 30 April trading for $1.31 apiece. That saw Orora shares down 30.7% over the month.
The Orora share price crashed 18.0% on 9 April following the release of a trading update.
Investors were overheating their sell buttons after the company downgraded its full year FY 2026 earning before interest and tax (EBIT) guidance for its Saverglass division.
Amid disruptions from the Middle East conflict, Orora now expects underlying FY 2026 EBIT from Saverglass in the range of 63 million to 60 million euros, down from prior guidance of 79 million euros.
Which brings us to…
Cochlear Ltd (ASX: COH)
The worst performing ASX 200 stock to have bought and held in April is Cochlear.
Shares in the hearing solutions company closed on 30 April trading for $94.00 each, down a sharp 44.4% over the month just past.
Cochlear shares crashed 40.7% on 22 April following the company's decidedly underwhelming trading update.
Citing decreased demand for its implants in developed markets and cancelled orders to its Middle East markets amid the Iran war, Cochlear reduced its FY 2026 underlying net profit guidance to between $290 million and $330 million. That's down from prior full year profit guidance of $435 million to $460 million.
