By
Rick Aristotle Munarriz
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More Articles
June 20, 2011
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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.
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Company
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June 17
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Weekly Loss
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My Watchlist
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Harbin Electric (Nasdaq: HRBN )
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$8.39
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(48%)
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Add
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Renren (NYSE: RENN )
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$7.03
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(25%)
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Add
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Research In Motion (Nasdaq: RIMM )
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$27.75
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(24%)
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Add
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Rubicon Technology (Nasdaq: RBCN )
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$16.36
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(24%)
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Add
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Winnebago (NYSE: WGO )
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$8.55
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(19%)
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Add
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Source: Barron's.
Even a strong bounce on Friday couldn't save Harbin Electric from being the market's biggest loser last week, shedding nearly half of its value. The culprit here was a scathing report out of Citron Research. Many Chinese companies that have imploded after bearish research notes by obscure or unknown attackers have come out, but Citron is a well known naysayer.
China's leading social network continues to be un-friended by investors. Renren is now trading for roughly half of last month's $14 IPO price, just ahead of today's quarterly report.
The news continues to get worse for BlackBerry maker Research In Motion. It was another gloomy quarter report out of the smartphone maker on Thursday. You know things are bad when this is the quarter that RIM finally rolls out its oft-delayed tablet, yet revenue still takes a double-digit percentage dip.
Rubicon Technology hosed down its bottom-line guidance. Even if the lower projections are simply the byproduct of federal tax accruals on strong operating profits, the market still doesn't like when things don't go according to plan.
Finally, we have Winnebago Industries running shareholders off the road. The maker of RVs fell after posting a lower-than-expected profit, with revenue taking a hit in light of waning consumer demand.
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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