There's never a shortage of losers in the stock market. Let's take a closer look at five of this past week's biggest sinkers.
| FLY Leasing (NYSE: FLY ) | $14.00 | 19% |
| ClickSoftware (NASDAQ: CKSW ) | $7.19 | 15% |
| Amarin (NASDAQ: AMRN ) | $5.26 | 12% |
| SodaStream (NASDAQ: SODA ) | $59.51 | 12% |
| Kandi Technologies (NASDAQ: KNDI ) | $4.53 | 12% |
Source: Barron's.
Let's start with FLY Leasing. The provider of leased commercial jet aircraft began a bumpy descent after announcing a secondary stock offering and hosing down its guidance. The company now sees revenue clocking in between $87 million and $91 million during the second quarter, short of Wall Street expectations of $93.5 million.
Investors flocking to FLY Leasing for presumably steady financial performance are running into a little turbulence, and it certainly didn't help when FLY made things worse by moving to raise $160 million in the form of a secondary stock offering.
ClickSoftware didn't "click" with investors after warning that it came up short in its latest quarter. The enterprise software solutions provider is now expecting revenue to grow just 9% to $24.5 million, well short of the $27.8 million analysts were targeting. It gets worse on the bottom line, where ClickSoftware now sees a loss of at least $0.06 a share. Wall Street was banking on a small profit.
Amarin shed some weight after completing a public stock offering. Issuing 21.7 million American depositary shares does give the company $121 million in ammo to help push its high triglyceride-tackling Vascepa treatment to market, but investors right now are merely eyeing the dilution that comes with watching shares outstanding increase by 14% in the process.
SodaStream went from fizzy to flat after a New York Post report claimed that interest in acquiring the fast-growing soda appliance maker was waning. Sources tell the paper that SodaStream's been quietly trying to find a suitor for at least three months.
Kandi Technologies ran out of gas after a pair of articles on Seeking Alpha gave unflattering perspectives of the Chinese company, which rallied last month on news of landing a notable partner to help market its electric sedan in the world's most populous nation. One article tackled Kandi's fundamentals, and the other raised questions about the Twitter and message board posts hyping the investment that spiked last month.
Ready for a bounce
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