These were the worst performing ASX 200 shares last week

These ASX 200 shares were sold off last week…

Man stands with head on his hands in front of a downward graph.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The S&P/ASX 200 Index (ASX: XJO) fought hard late in the week but was unable to recover from a selloff on Tuesday. The benchmark index fell 0.5% over the period to 7,435 points.

While a good number of shares tumbled with the market, some fell more than most. Here's why these were the worst performers on the ASX 200 last week:

EML Payments Ltd (ASX: EML)

The EML Payments share price was the worst performer on the ASX 200 with a massive 40% decline. Investors were selling the payments company's shares following the release of a surprisingly bad trading update.  EML has downgraded its earnings guidance following a tough third quarter which saw EML report a 22% decline in underlying net profit after tax and amortisation.

Life360 Inc (ASX: 360)

The Life360 share price wasn't too far behind with a decline of 24.5% over the four days. Investors were selling the location technology company's shares despite its quarterly update revealing a 129% increase in revenue to US$52.7 million and a 73% jump in annualised monthly revenue to US$166.1 million. The weakness appears to have been driven by weaker than expected cash flows and news that the company is scrapping its US dual listing plans. This appears to have sparked fears that a capital raising will be soon required.

Silver Lake Resources Limited (ASX: SLR)

The Silver Lake share price was out of form and sank 12.3% during the week. The catalyst for this decline was the release of the gold miner's quarterly update. Silver Lake reported production of 53,822 ounces of gold. And while this left it positioned to meet its FY 2022 production guidance, management warned that COVID-19 related labour shortages could disrupt its operations and thus withdrew its guidance.

ResMed Inc (ASX: RMD)

The ResMed share price was a poor performer and tumbled 9.9% last week. The majority of this decline came on Friday following the release of the sleep treatment company's quarterly update. ResMed posted a 12% increase in revenue to US$864.5 million and a 2% lift in earnings per share to US$1.32. Goldman Sachs points out that this missed consensus estimates by 5% and 9%, respectively.

Motley Fool contributor James Mickleboro has positions in Life360, Inc. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended EML Payments and Life360, Inc. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has recommended ResMed. The Motley Fool Australia has positions in and has recommended EML Payments. The Motley Fool Australia has recommended ResMed Inc. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Fallers

Three guys in shirts and ties give the thumbs down.
Share Fallers

Why Charter Hall Retail, DroneShield, FBR, and St Barbara shares are tumbling today

These shares are having a tough time on Tuesday. But why?

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why EML, GQG Partners, IGO, and Integrated Research shares are sinking today

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a strong gain. At the time of…

Read more »

A woman with short brown hair and wearing a yellow top looks at the camera with a puzzled and shocked look on her face as the Westpac share price goes down for no reason today
Share Fallers

Why Bellevue Gold, Mesoblast, Pilbara Minerals, and Wesfarmers shares are dropping today

These shares are ending the week deep in the red. What's going on?

Read more »

Frustrated stock trader screaming while looking at mobile phone, symbolising a falling share price.
Share Fallers

Why AGL, CBA, Deep Yellow, and Megaport shares are sinking today

These shares are falling more than most today. What's going on?

Read more »

A wide-eyed man peers out from a small gap in his black zipped jumper conveying fear over the weak Zip share price
BNPL shares

Why did the Zip share price just crash 9%?

Investors seem to be singling Zip out for punishment today...

Read more »

a woman holds her hands to her temples as she sits in front of a computer screen with a concerned look on her face.
Share Fallers

Why Capricorn Metals, Insignia, Sayona Mining, and Southern Cross Gold shares are falling today

These shares are having a tough time on hump day. But why?

Read more »

Three guys in shirts and ties give the thumbs down.
Share Fallers

Why Data#3, Elders, Karoon Energy, and Tyro shares are falling today

These shares are having a tough session on Tuesday. But why?

Read more »

A man in a suit looks sad as oil is spilled from a barrel.
Energy Shares

This $1 billion ASX 200 energy stock is diving 7%! Here's why

This ASX energy company is taking a beating on Tuesday. But why?

Read more »