July 23, 2012
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.
|New Oriental Education (NYSE: EDU )
|Synacor (Nasdaq: SYNC )
|BioSante Pharmaceuticals (Nasdaq: BPAX )
|Chipotle Mexican Grill (NYSE: CMG )
|Rambus (Nasdaq: RMBS )
New Oriental Education didn't earn a passing grade with investors after revealing the SEC was looking into the Chinese private educator's accounting practices.
Synacor was the biggest loser on Nasdaq, fueled by Jim Cramer advising Mad Money viewers that it's time to take profits of the recent IPO that has still more than doubled since its debut. Investors may also be getting nervous ahead of Wednesday's quarterly report.
BioSante took a spill on Tuesday and Wednesday after entering into a privately negotiated securities exchange agreement with a holder of convertible senior notes to swap the debt for 578,266 shares of the biotech company.
Chipotle was rolled over like one of its signature burritos after delivering a mixed quarterly report. Earnings and margins came in better than expected, but the quick-service eatery chain missed on the top line despite an enviable 8% spike in unit-level comps.
Rambus hopped on a bus heading the wrong way after posting a larger deficit than Wall Street was targeting in its latest quarter.
Ready for a bounce
It was a rough week for these five stocks. If you want to shake yesterday's losers and ride tomorrow's winners, a new special report reveals Motley Fool's top stock for 2012. It's free, but only for a limited time, so check it out now.