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.

Company

April 4

Weekly Loss

Halozyme Therapeutics  (NASDAQ: HALO  )

$8.43

30%

Liquidity Services (NASDAQ: BOFI  )

$18.26

30%

Veeve Systems  (NYSE: VEEV  )
(NASDAQ: SPLS  )

$23.10

14%

Yelp  (NYSE: YELP  )

$65.76

14%

Kandi Technologies  (NASDAQ: KNDI  )

$14.08

13%

Source: Barron's.

Let's start with Halozyme Therapeutics. The biotech crashed on Friday after suspending a clinical trial for what seemed to be a promising potential treatment for pancreatic cancer. Patients on the drug were more likely to experience blocked blood vessels, but Halozyme hopes that the halt is temporary.

Liquidity Services matched Halozyme's 30% plunge. The marketplace operator for surplus goods tumbled after a disappointing bidding process itself. Liquidity Services was bidding for the U.S. Department of Defense non-rolling-stock and rolling-stock surplus contracts. It had to bid high to win the non-rolling-stock contract, and then  It then withdrew from the live auction for the rolling-stock contract.

Veeva Systems slipped despite receiving a Morgan Stanley upgrade. Then again, it was easy to see through the dubious move to boost Veeva from Equal Weight to Overweight. After all, Morgan Stanley on Monday had helped lead a secondary offering. 

Yelp investors were crying for help after the Federal Trade Commission revealed that it has received more than 2,000 complaints about the venue reviews website. Some small businesses have argued that Yelp is featuring negative reviews after they decline to become premium sponsors. 

Kandi bulls had better learn that it doesn't pay to call Jim Cramer. For the second week in a row, the Chinese maker of electric vehicles was brought up during Mad Money's Lightning Round. For the second week in a row Cramer shot it down. He was only mildly dismissive a week earlier, preferring a larger stateside maker of off-road vehicles to Kandi, but on Monday of this past week he went ahead and advised viewers to sell because it's too risky. 

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  • Report this Comment On April 06, 2014, at 12:00 PM, baloneyspotter wrote:

    "Patients on the drug were more likely to experience blocked blood vessels" ~ Please oh please tell me where in the original PR from the company on that day where that was said, can you please? Also, how come it takes some 5 MF writers to tell us about the same story? Thanks in advance!

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