These were the worst performers on the ASX 200 last week

These ASX 200 shares were smashed last week…
The post These were the worst performers on the ASX 200 last week appeared first on The Motley Fool Australia. –

It was a tough five days for the S&P/ASX 200 Index (ASX: XJO) last week. This led to the benchmark index losing 0.7% of its value over the period to finish at 7,304 points.

While a good number of shares tumbled with the market, some fell more than most. Here’s why they were the worst performers on the index last week:

Mesoblast Limited (ASX: MSB)

The Mesoblast share price was the worst performer on the ASX 200 last week with a massive 21.7% decline. Investors were selling off the allogeneic cellular medicines developer’s shares after Novartis terminated an agreement that could have been worth ~US$1.2 billion. The two parties were looking at Mesoblasts’ remestemcel-L as a treatment for acute respiratory distress syndrome (ARDS) due to COVID-19. Novartis bailed after some disappointing trial results.

Zip Co Ltd (ASX: Z1P)

The Zip share price was a very poor performer and sank 15.6% lower during the five days. This was driven by weakness in the tech sector and concerns over news that US authorities have launched an investigation into the BNPL sector. The US Consumer Financial Protection Bureau is looking to see if BNPL players need to be better regulated and if US consumers are adequately protected.

Pointsbet Holdings Ltd (ASX: PBH)

The PointsBet share price was out of form and dropped 14.2% last week. This appears to have been caused by weakness in the tech sector and particularly in the sports betting market. For example, for the five trading sessions ending Thursday night, US rival Draftkings saw its shares sink 15%. Positively for PointsBet, Draftkings had a strong night on Friday, which could bode well for its shares on Monday.

Afterpay Ltd (ASX: APT)

The Afterpay share price wasn’t far behind with a 13.8% decline after the Square share price tumbled lower. As Afterpay is being acquired by Square in an all-scrip deal, its shares rise and fall with the Square share price. Last week the aforementioned news of an investigation into the US BNPL sector put pressure on Square’s shares.

The post These were the worst performers on the ASX 200 last week appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of August 16th 2021

More reading

These were the best performing ASX 200 shares last week

Here are the top 10 ASX shares today

Why Afterpay, Corporate Travel, Dubber, and EML shares are falling

Here are the 3 most heavily traded ASX 200 shares this Friday

Latitude (ASX:LFS) boss warns many ASX BNPL companies “will go out of business”

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended AFTERPAY T FPO, Pointsbet Holdings Ltd, and ZIPCOLTD FPO. The Motley Fool Australia owns and has recommended AFTERPAY T FPO. The Motley Fool Australia has recommended Pointsbet Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!