Insights

These were the worst performing ASX 200 shares last week

These ASX 200 shares had a week to forget…
The post These were the worst performing ASX 200 shares last week appeared first on The Motley Fool Australia. –

Last week was a positive one for the S&P/ASX 200 Index (ASX: XJO). The benchmark index rose 74.8 points or 1% over the five days to end the period at 7,348.1 points.

Unfortunately, not all ASX 200 shares were able to climb higher with the market. Here’s why these were the worst performers on the index:

Zip Co Ltd (ASX: Z1P)

The Zip share price was the worst performer on the ASX 200 last week with a 14.5% decline. Investors were selling the buy now pay later (BNPL) provider’s shares amid increasing competition in the industry. This followed reports that Apple is planning to disrupt the BNPL market with the launch of Apple Pay Later. Investors appear concerned that Apple could steal a significant number of customers away from Zip and its QuadPay business. This could put significant pressure on growth rates in the coming years if the reports turn out to be true. In addition, news that PayPal will be removing late fees from its BNPL offering also weighed on sentiment.

Afterpay Ltd (ASX: APT)

The Afterpay share price wasn’t far behind with a disappointing 12.2% decline. This was also due to speculation that tech behemoth Apple is planning to enter the BNPL market. Bloomberg believes Apple will soon launch Apple Pay Later, allowing consumers to pay for any Apple Pay purchase in instalments. The tech giant will use Goldman Sachs as the lender for the instalment loans. Apple reportedly sees it as a weigh to boost Apple Pay transactions, giving its US$50 billion a year services a lift.

PolyNovo Ltd (ASX: PNV)

The PolyNovo share price was a poor performer and tumbled 11.6% over the five days. This was driven by the release of the medical device company’s sales update for FY 2021 which underwhelmed a couple of leading brokers. In response to the release, both Bell Potter and Ord Minnett downgraded the company’s shares to hold ratings and cut their price targets. Bell Potter’s price target has reduced to $2.65 whereas Ord Minnett cut its price target to $2.54.

Mesoblast limited (ASX: MSB)

The Mesoblast share price was some way behind as the next worst performer with a 5.7% decline last week. The majority of this decline came on Friday following the release of further data relating to its respiratory function results from its COVID-19 trial. The clinical results relate to Mesoblast’s randomised controlled trial of its remestemcel-L product on ventilator dependent COVID-19 patients. Most of the data had been previously released.

The post These were the worst performing ASX 200 shares 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 May 24th 2021

More reading

These were the best performing ASX 200 shares last week

ASX 200 up, Evolution Mining drops, Appen rises

Here are 3 heavily traded ASX 200 shares today

How has the Afterpay (ASX:APT) share price responded to competition in the past?
Here’s why the Mesoblast (ASX:MSB) share price is sinking today

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 shares of and has recommended AFTERPAY T FPO, POLYNOVO FPO, and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended AFTERPAY T FPO. 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!