Track the companies that matter to you. It's FREE! Click one of these fan favorites to get started: Apple; Google; Ford.



5 of Last Week's Biggest Losers

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.


June 21

Weekly Loss




Eagle Bulk Shipping (NASDAQ: EGLE  )



Fortuna Silver Mines (NYSE: FSM  )



Celldex (NASDAQ: CLDX  )



Hovnanian (NYSE: HOV  )



Source: Barron's.

Let's start with Ebix. The provider of insurance industry enterprise software shed more than half of its value after a deal to acquire the company was called off in light of a U.S. criminal probe into Ebix's accounting practices. Ebix tried to woo back the bulls by committing to repurchase $100 million worth of its now deflated stock over the next two years, but the market wasn't swayed by the move.

Eagle Bulk Shipping shares sank after Greece's Excel Maritime and South Korea's STX Pan Ocean initiated bankruptcy protection earlier this month. This is the kind of shakeout that would normally be interpreted as bullish for the survivors, but Eagle Bulk's own iffy financial state has many investors bailing before it potentially has to do the same thing to appease creditors.

Fortuna Silver Mines also stumbled despite seemingly uplifting the news. The Vancouver-based silver and base metal producer, pursuing mining opportunities in Latin America, announced that it had completed the acquisition of the Taviche Oeste concession, which contains the Trinidad North discovery. Fortuna also announced an expanded production plan for the San Jose Mine in Mexico.

However, while metal prices continue to languish, it's hard for investors to rally behind the companies increasing their exposure to the silver market.

Celldex stumbled even after Jim Cramer reaffirmed his bullish stance on the cancer-tackling biotech.

"Celldex is doing groundbreaking work in one of the hottest parts of the oncology universe," Cramer told Mad Money viewers last month. "These are drugs that use the body's natural defenses -- the immune system -- to target and destroy cancer cells."

To be fair, even after this past week's 12% drop, Celldex is still trading nicely higher than it was when Cramer talked it up in the pre-teens late last month. But a reiteration of his stance on Wednesday was no match for the market's steep sell-off on Thursday.

Finally, we have Hovnanian leading the way lower for homebuilders, after the Federal Reserve hinted that it may start scaling back on plans to keep interest rates down. Mortgage rates have recently climbed to 12-month highs, and if rates keep moving higher, it will probably force real estate developers to scale back on their buoyant asking prices.

Ready for a bounce
If you owned some of these losers, how about following the smart money into winners?

With so much of the financial industry getting bad press these days, it may time to get greedy when others are fearful. Not surprisingly, some of Warren Buffett's biggest investments are in the space. In The Motley Fool's free report "The Stocks Only the Smartest Investors Are Buying," you can learn about a small, under-the-radar bank that's too tiny for Buffett's billions. Too bad for Buffett, because it has better operating metrics than his favorites. Just click here to keep reading.

Read/Post Comments (0) | Recommend This Article (1)

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 Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2504310, ~/Articles/ArticleHandler.aspx, 9/29/2016 6:37:04 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated Moments ago Sponsored by:
DOW 18,143.45 -195.79 -1.07%
S&P 500 2,151.13 -20.24 -0.93%
NASD 5,269.15 -49.39 -0.93%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/29/2016 4:00 PM
CLDX $3.80 Down -0.19 -4.76%
Celldex Therapeuti… CAPS Rating: ****
EBIX $55.91 Down -1.22 -2.14%
Ebix CAPS Rating: ***
EGLE $7.36 Down -0.26 -3.41%
Eagle Bulk Shippin… CAPS Rating: *
FSM $7.35 Up +0.07 +0.96%
Fortuna Silver Min… CAPS Rating: **
HOV $1.64 Down -0.05 -2.96%
Hovnanian Enterpri… CAPS Rating: **