The S&P/ASX 200 Index (ASX: XJO) continued its winning run last week with a small gain. The benchmark index rose 0.1% over the period to end it at 7,221.7 points.
Unfortunately, not all shares were able to climb higher with the market last week. Here's why these were the worst performers on the ASX 200:
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Hub24 Ltd (ASX: HUB)
The Hub24 share price was the worst performer on the ASX 200 last week with a decline of 13.3%. This was despite the investment platform provider completing its acquisition of SMSF software company Class. This appears to have been overshadowed by an underwhelming half year result from rival Netwealth Group Ltd (ASX: NWL).
Fortescue Metals Group Limited (ASX: FMG)
The Fortescue share price wasn't far behind with a decline of 13.1% over the five days. This was driven by a softer than expected half year update and weakness in the iron ore price. The latter was driven by Chinese regulators that are aiming to cool the iron ore rally. They certainly achieved their goal, with prices tumbling so much they fell into a bear market. This also impacted the Mineral Resources Limited (ASX: MIN) share price, which dropped 10.2% last week.
EML Payments Ltd (ASX: EML)
The EML Payments share price was out of form and fell 10.2% over the period. This follows the release of a half year result which fell short of expectations on the top line due to Omicron impacts during the holiday shopping period. However, management did reiterate its full year guidance despite this.
Zip Co Ltd (ASX: Z1P)
The Zip share price continued its poor run and dropped a further 9.8%. This means the buy now pay later (BNPL) provider's shares have now lost almost 80% of their value over the last 12 months. Last week's decline appears to have been driven by regulatory concerns and further weakness in the shares of global players such as Affirm.
