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Down 99%, this ASX share could now be a bargain buy
Down 99%, this ASX share could now be a bargain buy
Who’s game for a very contrarian bet? This will take courage, but one expert reckons this food giant can only go up after a horror 5 years.
Senior journalist at The Motley Fool
Tony Yoo is a senior journalist at The Motley Fool Australia. He formerly wrote for Yahoo Finance, Business Insider and Guardian Australia. Please send story tips to tony.yoo(at)foolcontractors.com. Tony s stock holdings are here.
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The
S&P/ASX 200 Index (ASX: XJO) had a mixed five days last week. But thanks to a strong finish, the benchmark index was able to record a very small weekly gain to end at 7,308.6 points.
Unfortunately, not all ASX 200 shares were able to push higher with the market. Here’s why these were the worst performers on the index:
Collins Foods Ltd
The Collins Foods share price was the worst performer on the ASX 200 with a 13.1% decline. The quick service restaurant operator’s shares actually stormed to a record high following the release of its full year results, before starting to sink. This may have been driven by a couple of broker downgrades. Largely on valuation grounds, UBS and Morgans downgraded the company’s shares to neutral/hold ratings.
Asian Open: Consumer and Job confidence Lifts Wall Street
Matt Simpson June 29, 2021 11:40 PM
US indices rose to new highs on the back of domestic data, looking past the risk-off tone generated in Asia as the COVID-19 Delta variant weighed on sentiment for FX. Share:
Asian Futures:
Australia s ASX 200 futures are up 16 points (0.22%), the cash market is currently estimated to open at 7,317.20
Japan s Nikkei 225 futures are up 100 points (0.35%), the cash market is currently estimated to open at 28,912.61
Hong Kong s Hang Seng futures are up 59 points (0.2%), the cash market is currently estimated to open at 29,053.10
UK and Europe:
Europe s Euro STOXX 50 index rose 17.6 points (0.43%) to close at 4,107.51
Collins Foods (ASX:CKF) share price hits record high after reporting strong FY 2021 growth
This KFC operator just hit a record high…
James Mickleboro has been a Motley Fool contributor since late 2015. After studying economics at university back home in the United Kingdom, James came to live in Australia and managed to land a job at an Australian fund manager. This was the start of a love affair with Australian equities and he hasn t looked back since. James is part of the CFA Institute s Chartered Financial Analyst program and hopes it teaches him how to become an astute investor which allows him to help others with their own investing. Outside of reading and researching he spends many a late night watching the English Premier League and Seinfeld reruns.