Worst Performing Stocks for Week 24 of 2008

Submitted by Craig Strzelecki on 14 June, 2008 - 12:51

Babcock & Brown was the overall worst performing stock taking in a 51.96 percent decrease in their listed company value. It was a mixture of investment, fund and asset management, learning services, infrastructure services and energy companies who were among the worst performing stocks for the week 24 of 2008 on the Australian sharemarket: Babcock & Brown (BNB), ABC Learning (ABS), Babcock & Brown Infrastructure (BBI), Babcock & Brown Power (BBP). The majority of the worst performers for the week were attached to Babcock & Brown Group and it was the highlight of the week. These worst performing stocks for the week 24 recorded losses above 30.23 percent by the end of the trading week.

Babcock & Brown, an international investment and specialised fund and asset management group with longstanding capabilities in the creation, syndication and management of asset and cash flow-based investments, took the ribbon for the worst performing stock on the ASX 100 index seeing 51.96 percent fall or $5.68 and closing at $5.25 by the end of the trading week. ABC Learning, which makes high quality early childhood education programs available to all families, became second in the list losing 52 cents, closing at 88 cents and a negative move of 37.14 percent. ABC Learning was followed by Babcock & Brown Infrastructure, specialist infrastructure entity which provides investors access to a diversified portfolio of quality, seeing 30.23 percent fall, losing 33 cents and closing at 75 cents by the end of the trading week. On the ASX 200 index, Babcock & Brown was the worst performing stock. Babcock & Brown was followed by Babcock & Brown Power, a power generation business, with assets diversified by geographic location, fuel source, customers, contract types and operating mode, seeing 45.8 percent fall or 60 cents and closing at 71 cents. ABC Learning came in the third place for the worst performing stocks for the ASX 200 index.