Boom Logistics: Worst Performer for Week 7 of 2008

Boom Logistics (BOL) was the overall worst performing stock taking in a 25.5 percent decrease in its share price this week. Among the worst performing stocks for the past trading week (week 7 for 2008) on the Australian sharemarket were a mixture of financial services, electronic, implant devices, constructing and logistics: Challenger FSG (CGF), Cochlear (COH), Leighton (LEI), Boom Logistics (BOL), JB Hi-Fi (JBH). These worst performing stocks for week 7 of 2008 were ranged from 12 percent to 25 percent in their losses.

Challenger FSG, the diversified financial services organisation was placed first in the worst performing stocks for the ASX 100 seeing 18.5 percent fall, losing 58 cents and closing at $2.55 at the end of the trading week. Challenger FSG was followed by Cochlear, the manufacturer and sales of implant systems was in the next losing considerable $11.34 and decreased by 16.7 percent (close $56.36). Leighton Holdings was the third of worst performing stocks seeing 12.9 percent fall, losing $6.97 and closing at $46.78. On the ASX 200 index, Boom Logistics, the leading national based crane lifting solutions company was at the first position of the worst performing stocks losing 27 cents, decreasing 25.9 percent and closing at 79 cents. Boom Logistics was followed by JB Hi-Fi, the electronic equipments store closing at $10.55 (-$2.55, -19.4%). Challenger FSG was at the third position of the list. There were two other stocks in the list with significant moves: Centro Retail (CER) was at the fourth position seeing 17.7 percent fall, losing 8 cents and closing at 37 cents. Riversdale Mining (RIV), a diversified mining finance house was at sixth place closing at $7.85 (-$1.33, -14.4%).