The Australian stock market was in excellent shape in 2019, with the All Ordinaries index of one of the best performing indexes in the world with a gain of around 18%.
However, not all actions on the index were able to follow him higher this year.
Three that have been hammered are listed below. Is it a buying opportunity?
The Costa Group Holdings Ltd (ASX: CGC) The share price was among the worst results of the index this year with a drop of 45%. The actions of the horticulture company have fallen heavily due to a series of guidelines downgrades due to difficult trading conditions and price pressures. Although I am not convinced that the worst is still over for Costa, I think this risk has been assessed in his actions. This could make it worth considering a long-term and patient investment in the company's shares.
The Syrah Resources Ltd (ASX: SYR) the share price has lost almost 43% of its value since the start of the year. Investors sold the graphite manufacturer's shares due to concerns about weakening the price of battery-producing ingredients and higher than expected operating costs. In addition, a recent capital increase carried out with a material discount also weighed on its shares. And with graphite prices that probably won't improve in the short term due to falling demand in China, I suspect Syrah's shares have not hit bottom yet.
The Wagners Holding Company Ltd (ASX: WGN) The share price has fallen by 41.5% since the start of the year. Investors are heading towards exits after the construction products company has revealed a dispute over cement supply prices with Boral Limited (ASX: BLD). Boral purchased cement from a different supplier at a cheaper price and Wagners is required to combine it or suspend its supply contract. Wagners objected to Boral's price warning and is likely to lose a very large customer if his claim statement fails. In light of this, I would like to stay away from his actions until the matter is resolved.
Instead of Wagners, I would like to purchase these high-tech stocks that have been inclined to zoom in higher in FY 2020.
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Motley Fool collaborator James Mickleboro has no position in any of the stocks mentioned. Motley Fool Australia owns shares and recommended COSTA GRP FPO. We Fools may not all have the same opinions, but we are all convinced that, considering a wide range of insights, we have become better investors. The Motley Fool has a disclosure policy. This article contains only general investment recommendations (with AFSL 400691). Authorized by Scott Phillips.
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