A strong start to 2019 means that the All Ordinaries (Index: ^AXAO) (ASX: XAO) has carved out a gain of 2.3% over the last 12 months.
Unfortunately. not all shares on the index have been able to push higher during this time.
In fact, the three shares listed below have been smashed over the last 12 months. Here's why:
The AMP Limited (ASX: AMP) share price has crashed 59% lower since this time last year and currently trades within a whisker of a 15-year low. The embattled financial services company's shares have come under significant selling pressure over this time after the Royal Commission showed that it had charged life insurance premiums to deceased clients and charged fees for no service. The negative media coverage appears to have already had a significantly detrimental impact on its financial performance. Last week AMP reported a 55% decline in full year revenue from ordinary activities to $8,286 million and a 97% drop in full year net profit to $28 million.
The Medical Developments International Ltd (ASX: MVP) share price has lost 46% of its value over the last 12 months. The company behind the Penthrox pain management product has seen its shares trend lower since the U.S. Food and Drug Administration (FDA) suspended the clinical program for Penthrox in the USA. The FDA requested additional information and justification for the rare occurrence of idiosyncratic hepatoxicity, amongst other things. While the company appears confident that it can satisfy the FDA's requests, the market remains cautious. Which isn't overly surprising given the sky high multiples that its shares are trading on.
The Syrah Resources Ltd (ASX: SYR) share price has been one of the worst performers on the All Ordinaries over the last 12 months with a 61% decline. The softening demand for battery making ingredients has weighed heavily on the graphite miner's shares during this time. Unfortunately for shareholders, things don't look likely to improve greatly in the near term. Syrah recently provided an update and revealed pricing and cost guidance for FY 2019 which fell well short of expectations.
