Linc Energy- Loser of the Week

Submitted by Jim Thesiger on 11 May, 2010 - 17:15

Linc Energy (LNC), an organization involved in the energy industry with a primary focus on the exploration of coal, gas and diesel and a supplier of environment friendly power, diesel and aviation fuels was the worst performer in the ASX200 list for the 17th week. The company had a market capitalisation of $596.1 million and lost 20.4 percent to its stock price closing for the week at $1.23. Its stocks traded at $1.55 during the last week. It was a mixture of exploration, resources, financial service and air transportation based companies in the list of worst performing stocks of ASX200 for this week: Linc Energy (LNC), Panoramic Resources (PAN), Eastern Star Gas (ESG), Virgin Blue Holdings (VBA), Infigen Energy (IFN). The second place was taken by Panoramic Resources (PAN), a company that is involved in the exploration and exploitation of copper and cobalt, with primary focus on nickel sulphide. The company lost 20.3 percent and closed the week at $2 (market capitalisation $410.4 million). Last week, Panoramic shares closed trading at $2.51. It was followed by Eastern Star Gas (ESG), a conventional and coalbed methane gas explorer and producer which operates mainly in New South Wales and Victoria. The company saw an 18 percent slide to its stock price and was closed for the week at 75 cents (market capitalisation 654.2 million). The stocks of this company were traded at 92 cents during the last week. Next in the line was Virgin Blue Holdings (VBA) a company that offers air travel services with main focus on Australia. The company lost 17.6 percent to its stock price and was closed for the week at 49 cents (market capitalisation $1082.5 million). The VBA stocks were traded at 60 cents during the earlier week. Infigen Energy (IFN), a global independent renewable energy Company which is involved in the business of ownership and maintenance of wind energy generation assets took the fifth place in the list. It saw a 17.3 percent drop to its share price and was closed for the week at 81 cents (market capitalisation $650.0 million). Infigen stocks were traded at 98 cents during the last week.