5 of Last Week's Biggest Losers

There's never a shortage of stocks going the wrong way in any given chunk of time. No stock goes straight up, and sometimes fundamentals can get a bit wobbly. Let's take a closer look at five of this past week's biggest sinkers.

Company

June 13

Weekly Loss

Finisar  (NASDAQ: FNSR  )

$8.71

33%

lululemon athletica  (NASDAQ: LULU  )

$37.61

15%

Inovio Pharmaceuticals  (NASDAQ: INO  )

$8.71

12%

Organovo Holdings  (NYSEMKT: ONVO  )

$6.87

11%

Famous Dave's of America  (NASDAQ: DAVE  )

$30.99

10%

Source: Barron's.

Let's start with Finisar. The optical networking specialist was crushed on Friday after posting disappointing quarterly results. Earnings fell short of expectations, and Finisar's guidance was also soft. Analysts weren't impressed. Craig-Hallum downgraded the stock while RBC Capital and MKM Partners lowered their price targets on Finisar. 

Shares of lululemon athletica hit a three-year low after the company's own problematic quarter. The retailer of high-end yoga and fitness apparel posted weak sales growth that was weighed down by a 4% decline in comparable corporate-store sales. The 263-store chain's guidance also fell short of what the pros were expecting.

Inovio Pharmaceuticals moved lower after an article from The Street argued that its CEO is talking down expectations for its treatment of cervical dysplasia. The article also suggests that a 1-for-4 reverse split that went into effect earlier this month was executed to make sure that the stock stays above $1 in case the results are unsatisfactory. Inovio refuted some of the claims in the article the following day, but you know how investors feel about uncertainty. Inovio expects to have more to say about the study by the end of next month.

Organovo Holdings slumped after posting uninspiring financials results. Organovo's revenue for all of fiscal 2014 clocked in at a meager $0.4 million, but that's not necessarily a deal-breaker, as it's still an early stage company trying to turn a proxy of human tissue into a reality. However, seeing its operating expenses double to $21 million for the fiscal year ending in March is concern to those worried that Organovo will burn through its cash before it has a viable product on the market. Organovo does have a 3-D liver assay test ready to make its debut, but there will be bigger opportunities to come if it is successful.

Finally we have Famous Dave's getting scorched after its chairman of the board announced his resignation on Monday. There has been a lot of executive turnover at the casual-dining BBQ joint lately, and investors were left wondering what truly prompted its chairman to step down.

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