5 of Last Week's Biggest Losers

These five stocks suffered double-digit percentage declines last week.

Mar 23, 2014 at 7:00AM

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

March 21

Weekly Loss

Ballard Power Systems (NASDAQ:BLDP)

$4.33

24%

BofI(NASDAQ:BOFI)

$86.44

18%

Orchids Paper Products (NYSEMKT:TIS)

$27.72

18%

Renren (NYSE:RENN)

$3.22

14%

SolarCity (NASDAQ:SCTY)

$65.05

12%

Source: Barron's.

Let's start with Ballard Power Systems. Fuel cell energy stocks were big winners earlier this year, but the big gains are now being countered with skepticism in a nichewide sell-off. It also didn't help that a big investor in Ballard converted its promissory note into shares, triggering fears that there would be a big block of shares being sold into the market.

Bank of Internet parent BofI hit an all-time high of $106.55 on Monday, but that quickly eroded during the week. It didn't help that Jim Cramer had some unkind words to say about the online banking speedster when it was brought up during Mad Money's Lightning Round segment. 

"I have a bunch of real banks that are worth buying," Cramer said to a caller. "I'm not speculating on this one."

Orchids Paper Products unraveled on Friday, after a partner at a national securities firm announced an investigation into the company's 2014 stock incentive plan. The partner alleges that there may have been potential breaches of fiduciary duties in the process of seeking stockholder approval for the plan. Even if Orchids Paper Products is vindicated, investors don't like the to wait the uncertainty out.

Renren slumped after posting a disappointing quarter. The operator of a real-name social networking website in China saw its revenue fall 29% with double-digit declines in its online advertising revenue, online gaming business, and, perhaps even more problematically, its active users. It also wasn't encouraging to see its operating loss nearly double during the period. The growth story at Renren needs a rewrite.

Finally, we have SolarCity setting after the installer of solar energy solutions posted fresh financials. It had delayed the report earlier this month on acquisition-related accounting concerns. The results were decent, with a smaller quarterly deficit than expected as revenue nearly doubled. However, SolarCity then warned that it will post a much wider loss during the current quarter than the pros were targeting. 

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Rick Munarriz has no position in any stocks mentioned. The Motley Fool recommends and owns shares of BofI Holding and SolarCity. Try any of our Foolish newsletter services free for 30 days. We Fools don't 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.

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