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 |
July 1 |
Weekly Loss |
My Watchlist |
|---|---|---|---|
|
Rubicon Minerals |
$3.37 | (26%) | Add |
|
Pain Therapeutics |
$4.02 | (24%) | Add |
|
BioMimetic Therapeutics |
$4.70 | (15%) | Add |
|
KB Home |
$10.17 | (14%) | Add |
|
OMNOVA Solutions |
$7.07 | (12%) | Add |
Source: Barron's.
Gold digger Rubicon Minerals fell after the preliminary economic assessment of its F2 mine fell short of hyped-up expectations. The project in Ontario's Red Lake district will be very lucrative for Rubicon, but not quite the bonanza that the market was banking on.
Pain Therapeutics continued stumbling last week, as the drugmaker shed a little more light on the Food and Drug Administration's rejection of its oxycodone formulation designed to prevent abuse. It doesn't look good, according to the Fool's own Brian Orelli. Inconsistencies in the manufacturing process of Remoxy will delay any approval of the treatment in the near term.
BioMimetic Therapeutics took a hit after JPMorgan downgraded shares of the orthopedic drug specialist to a neutral rating. BioMimetic shares took a hit back in May when concerns were raised about getting its bone graft treatment approved.
KB Home landed on a sinkhole after posting a wider-than-expected quarterly loss. KB Home also had to write down some of its land. Yes, the housing industry is still nowhere close to bottoming out.
OMNOVA Solutions also came up short in its latest quarter. The rising cost of raw materials ate into the chemical giant's profitability during the period.
It was a rough week for these five stocks. Let's see which ones bounce back this week.
Which of these five stocks do you think bottomed out last week? Share your thoughts in the comment box below.
