The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) posted its worst week in three months, losing 4.25%, despite managing to drag itself into the black today with a 0.3% gain.
These 4 stocks were heavily sold off…
AWE Limited's (ASX: AWE) share price crashed 5.8% to $0.73, despite no news from the company. The oil and gas producer has seen its share price hammered, losing 60% in the past 12 months, as oil prices fell. Carrying a huge amount of debt ($123 million) and likely to spend many millions on exploration and development this year, investors may well be wise to jump out.
UGL Limited (ASX: UGL) saw its share price sink 5.7% to $1.83. Exposed to falling capital expenditure in the resources sector, the engineering, construction and mining services company had a shocker for the 2015 financial year, posting a loss of $236.4 million. Management is positive about the future but suggested that 2016's result would be flat before the company saw an improvement in the 2017 financial year. That might be too long for some investors.
Surfstitch Group Ltd's (ASX: SRF) share price fell 5.1% to $1.68, perhaps as investors fret over weak Australian retail sales, a weaker Australian dollar and falling consumer confidence. The company operates a number of online retail sites for surf, skate and ski wear. The price fall may be an opportunity for investors – after a high-performing fund manager recently added the company to its portfolio.
Retail Food Group Limited (ASX: RFG) share price dropped 4% to $4.30. You wouldn't think the company had just posted a record profit and forecast 20% growth for the 2016 financial year. Retail Food is one of Australia's largest franchisees, with brands like Gloria Jeans, Crust and Pizza Capers, Michel's Patisserie, Brumby's Bakery, Donut King and a wholesale coffee roasting business. At today's price, Retail Food is also paying a trailing dividend yield of 5.4%.
