These big name Aussie companies have seen their valuations plummet in 2021
The post 3 ASX 200 shares down more than 50% in 2021 appeared first on The Motley Fool Australia. –
It’s been a pretty good year for ASX 200 shares. The S&P/ASX 200 Index (ASX: XJO) has gained 7.7% to close at 7,196.70 points on Wednesday afternoon.
However, it hasn’t been all good news across the index. In fact, here are 3 companies that have shed more than 50% of their value so far in 2021.
3 ASX 200 shares down more than 50% in 2021
1. Appen Ltd (ASX: APX)
One of the most surprising companies to make this coveted ASX 200 shares loser list. Appen shareholders have watched as more than 65% of the company’s value has dropped away this year.
Shares in the data annotation company are now sitting at a 3-year low, having hit as low as $8.87 per share on Wednesday. One factor that has hurt Appen is the significant price run-up seen throughout 2020.
A pullback in growth shares amid rising bond yields has hurt the Appen share price. A disappointing FY21 earnings result, highlighted by a 55.1% drop in net profit after tax, hasn’t helped the ASX 200 share in 2021.
2. Polynovo Ltd (ASX: PNV)
Another former ASX growth darling has made the list. The Polynovo share price has been smashed in 2021, falling 51.8% as at Wednesday’s close. That’s despite limited price-sensitive news from the Aussie company.
However, it appears that Polynovo may be falling for similar reasons to Appen – its recent share price growth has been significant. In fact, from 30 September 2020 to the end of last year, the ASX 200 rocketed 80% higher.
This year’s pullback saw the Polynovo share price shed 30% in January alone after a sharp decline in first half sales from the Aussie biotech company. That downward trajectory has continued with the ASX 200 share’s value continuing to decline.
3. AGL Energy Limited (ASX: AGL)
AGL may be a surprising addition to the list of share price decliners amongst two ASX growth shares. However, shares in the Aussie energy generator and retailer have slumped 51.6% lower since the start of the year.
2021 has been a tough year for AGL investors. A weak FY2021 result, highlighted by a statutory loss north of $2 billion, certainly hasn’t helped boost sentiment.
Management has pointed the finger at the COVID-19 pandemic with increased supply coupled with weaker energy demand hurting the company’s earnings.
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Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Appen Ltd and POLYNOVO FPO. The Motley Fool Australia owns shares of and has recommended Appen Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.