Investing
4 Companies That Destroyed Shareholders Last Week
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Both the Dow Jones Industrial Average and S&P 500 have felt a huge downward push, even though it has only been just over a month into the new year, and only now are they starting to recover. Although stocks are beginning to make a comeback, there are still those that are caught in the downturn slowing this recovery.
We decided to pick out some companies that destroyed shareholders over the course of the past week. While these were not the four biggest absolute losers of the week, of the active stocks, these all issued or had news that pushed shares down. 24/7 Wall St. has included their recent trading history, as well as the 52-week trading range and the consensus analyst price target.
Community Health Systems
Community Health Systems Inc. (NYSE: CYH) spooked investors badly enough that all hospital stocks were running in the red on Tuesday. The company complained about a weak flu season, bad debts rising and lower than expected patient volume in former HMA markets. There is even a delayed spin-off here.
Community Health Systems was among the worst performing stocks on Tuesday, with shares down as far as 26%. The stock recovered only slightly over the rest of the week but shareholders were still punished.
Over the course of the week, the stock dropped roughly 22%. Shares of Community Health ended the week at $14.60, with a consensus analyst price target of $24.52 and a 52-week trading range of $12.86 to $65.00.
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