The Australian share market may be trading within sight of its all-time high, but not all shares have been in such good form this year.
Three shares that have taken a sharp tumble in 2019 are listed below. Here's why they just hit 52-week lows or worse:
The Japara Healthcare Ltd (ASX: JHC) share price continued its slide and dropped to an all-time low of $1.06 on Monday. The aged care provider's shares have come under pressure this year due to the Royal Commission into the aged care sector, falling occupancy rates, the company's disappointing financial performance, and a weak outlook. In June the company warned that normalised EBITDA in FY 2020 is expected to be ~$105 million, which will be a 7% decline year on year.
The Orocobre Limited (ASX: ORE) share price dropped to a two-year low $2.64 yesterday. Orocobre and the rest of the lithium miners have been hammered this year due to a sharp and sustained decline in the price of the battery making ingredient. This has been caused by a combination of subdued demand and increasing supply. And with many tipping that lithium prices are likely to go lower before going higher again, Orocobre's shares may not have bottomed yet. This will be music to the ears of short sellers who have already done exceptionally well shorting this company's shares.
The Whispir Ltd (ASX: WSP) share price tumbled to a record low of $1.42 on Monday. This means that Whispir's shares are now down over 11% since listing on the ASX in June at $1.60 per share despite there not being a single announcement out of the company. Whispir provides an industry-leading software platform that allows governments and organisations to deliver actionable two-way interactions at scale using automated multi-channel communication workflows. This allows organisations to manage, automate, and optimise their communication processes without requiring specialised technical expertise.
