These were the worst performing ASX 200 shares in April

These ASX 200 shares were hammered in April…
The post These were the worst performing ASX 200 shares in April appeared first on The Motley Fool Australia. –

The S&P/ASX 200 Index (ASX: XJO) was out of form during a very volatile April. The benchmark index lost 0.9% of its value during the month to end it at 7,435 points.

Although a good number of shares dropped with the market, some fell more than most. Here’s why these were the worst performers on the ASX 200 in April:

EML Payments Ltd (ASX: EML)

The EML Payments share price was the worst performer on the ASX 200 in April with a massive 47% decline. The catalyst for this was the release of the payments company’s trading update. During the third quarter, EML saw its net profit drop 22% on the prior corresponding period. This was driven by a poor performance from its European prepaid business and higher costs. And with management expecting the fourth quarter to be just as challenging, it was forced to downgrade its full year guidance.

Megaport Ltd (ASX: MP1)

The Megaport share price was sold off in April and sank 37.5% during the month. This was driven by weakness in the tech sector and the release of a disappointing third quarter update from the network as a service provider. In respect to the latter, for the three months ended 31 March, Megaport reported modest quarter on quarter revenue growth of 5% to $27.9 million. This was well short of the market’s expectations and led to consensus estimate downgrades.

Life360 Inc (ASX: 360)

The Life360 share price had a month to forget and sank 32% over the period. The majority of this decline came towards the end of the month following the release of the location technology company’s quarterly update. This was despite that update revealing a 129% increase in revenue to US$52.7 million and a 73% jump in annualised monthly revenue to US$166.1 million. Weaker than expected cash flows and news that Life360 is scrapping its US dual listing plans appeared to overshadow its strong top line growth.

Zip Co Ltd (ASX: ZIP)

The Zip share price continued its slide during April and dropped a further 26.2%. This means the Zip share price is now down 86% over the last 12 months. Investors were selling the buy now pay later provider’s shares after its third quarter update disappointed the market. This saw a number of brokers take an axe to their valuations. For example, the team at Jefferies retained their underperform rating and slashed their price target by 46% to $1.00.

The post These were the worst performing ASX 200 shares in April 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 over ten 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 January 12th 2022

More reading

April was a disastrous month for the Zip share price. Here’s why
If you’d bought $10,000 of Bendigo Bank shares 10 years ago, guess how much you’d have now
5 things to watch on the ASX 200 on Tuesday
The CBA share price was the worst performer of the ASX 200 big banks in April. What happened?
Why is the Webjet share price beating the ASX 200 today?

Motley Fool contributor James Mickleboro has positions in Life360, Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended EML Payments, Life360, Inc., and MEGAPORT FPO. The Motley Fool Australia has positions in and has recommended EML Payments. The Motley Fool Australia has recommended MEGAPORT FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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.

  • This field is for validation purposes and should be left unchanged.

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 - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US & HK* Trades. Click Here!