On Tuesday I looked at three shares that have more than doubled in value since the start of the year.
Today I thought I would look at the other side of the coin – at the shares that have halved in value in 2019.
Three shares that have done this are listed below. Here's why they have been crushed this year:
The Amaysim Australia Ltd (ASX: AYS) share price has fallen by a disappointing 56% since the start of the year. Investors have been heading to the exits in their droves since the release of a disappointing full year result in August. The junior telco company reported a 7.8% decline in revenue to $508.3 million and a $6.5 million loss. One major concern, though, was that a key driver of this underperformance was a 4.8% decline in recurring mobile subscribers to 624,000. Investors appear concerned that Amaysim's subscriber numbers may have peaked after several years of growth.
The Costa Group Holdings Ltd (ASX: CGC) share price has lost 51% of its value since the start of the year. The horticulture company's shares have come under pressure this year due to a series of earnings guidance downgrades and a disappointing half year result in August. Costa posted a 15% decline in half year statutory net profit after tax to $41.1 million and warned that the continuation of challenging trading conditions means it could fall short of its calendar year guidance.
The Speedcast International Ltd (ASX: SDA) share price has been the worst performer on the ASX 200 index this year with a decline of 59%. The global satellite communications provider's shares crashed lower last month when it released a very disappointing half year update. In the first half of FY 2019 Speedcast posted a 17.3% increase in revenue to $357.6 million, but a massive statutory loss after tax of $175.5 million. It also revealed that its net debt increased to a sizeable $625 million, sparking fears that a material capital raising might be needed to strengthen its balance sheet.
