5 of Last Week's Biggest Losers

By Rick Aristotle Munarriz | More Articles
May 31, 2011 | Comments (2)

There's never a shortage of losers in the stock market.

Let's take a closer look at five of this past week's biggest sinkers.

Company	May 27	Weekly Loss	My Watchlist
Mecox Lane (Nasdaq: MCOX )	$3.40	(32%)	Add
China Green Agriculture (NYSE: CGA )	$4.68	(28%)	Add
Sigma Designs (Nasdaq: SIGM )	$8.62	(27%)	Add
China-Biotics (Nasdaq: CHBT )	$7.40	(26%)	Add
China Information Technology (Nasdaq: CNIT )	$2.00	(24%)	Add

Source: Barron's.

Mecox Lane sank after posting a wider loss on a surprising dip in revenue. The Chinese online apparel retailer has been brutal to shareowners that bought in when Mecox Lane went public at $11 back in October. Roth Capital lowered its price target on the beleaguered stock -- from $8.50 down to $6 -- after the grim report.

China Green Agriculture is a fertilizer maker that's being dogged by accusations of malfeasance. This has cursed many small Chinese companies in recent months. China Green Agriculture did issue a press release last week, but only to point out that it's not the company's policy to comment on rumors or unusual market activity.

Sigma Designs took a hit after a disappointing quarter. The California-based chip maker -- and I'm singling out where it's from because the four other companies making the cut this week hail from China -- missed Wall Street's top- and bottom-line targets.

China-Biotics and China Information Technology are two more Chinese companies that are coming under fire from skeptical investors. By the time the dust settles, the falsely accused stocks will rightfully rally. In China Information Technology's case, it certainly doesn't help that its CFO resigned on Friday.

It was a rough week for these five stocks. Let's see which ones bounce back this week.

Which of these five stocks do you think bottomed out last week? Share your thoughts in the comment box below.

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The Motley Fool owns shares of China Green Agriculture. Motley Fool newsletter services have recommended buying shares of China Green Agriculture. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Longtime Fool contributor Rick Munarriz enjoys cheering on winners and whispering words of encouragement to the losers. He does not own shares in any of the companies in this story. He is also part of the Rule Breakers newsletter research team, seeking out tomorrow's ultimate growth stocks a day early.

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Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment icon found on every comment.

Report this Comment On May 31, 2011, at 10:59 AM, David369 wrote:

Seems like the Chinese desire to show that they can excel in business is only exceeded by their uninhibited ability to arrange the facts to make their desires appear to come true.
Report this Comment On June 09, 2011, at 2:31 PM, decbutt wrote:

The time for TMF to go to China and check CGA
CGA - that they couldn't stop vomit-plugging 2-3 times a week a few years back -
The time to go to China for an unannounced "visit" was in Q3/4 2010.
Now what?

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