NIC, WGX, Z1P: Why were these ASX shares March’s worst performers?

2 min read | April 04, 2022 03:44 PM PDT | By Ashish

Google News:

NIC, WGX, Z1P: Why were these ASX shares March’s worst performers? — Image source: © Stbernardstudio | Megapixl.com

Recent News

Why Accenture (NYSE:ACN) Is Drawing Fresh S&P 500 Attention?

Why is Hormel Foods (NYSE:HRL) S&P 500 Index trend steady today?

Why is Molson Coors (NYSE:TAP) tracking S&P 500 beverage shift trends?

Why is Lemonade (NYSE:LMND) expanding in Montana in Russell 1000 Idx?

Make Kalkine Media
My Trusted Source

Highlights

Despite ongoing geopolitical tensions, the ASX 200 gained in March.

The benchmark advanced 4% over the month to end at 7,499.6 points.

However, there were stocks which couldn’t follow the market’s lead and posted losses.

The Australian share market performed reasonably well in March despite the ongoing geopolitical challenges. The benchmark ASX 200 gained 6.4% over the month to end at 7,499.6 points.

Despite majority of the ASX-listed stocks posting a rise, there were a few which continued to show weakness. These stocks couldn’t mimic the market’s lead and reported weakness in March, leading to losses for their shareholders.

On this note, let’s discuss these ASX-listed stocks which were the worst performers in the month of March:

Nickel Mines Ltd (ASX:NIC)

Nickel Mines is an Australia-based company that is focused on producing nickel pig iron (NPI).

The miner was the worst ASX performer in March with over 21% fall. The stock was under stress on concerns over its ties with Tsingshan. The stainless steel major Tsingshan, Nickel Mines’ largest shareholder, was trapped in a huge nickel short squeeze, reportedly leading to massive losses for investors.

Westgold Resources Ltd (ASX:WGX)

Westgold Resources is an explorer and developer of gold mines. It operates in the goldfields of outback Western Australia.

The stock fell over 17% in March. The fall was due to the company’s AU$100 million institutional placement. The company raised the funds at 13.9% discount of AU$2.44 per new share to boost its Murchison and Bryah growth strategy.

Zip Co Ltd (ASX:Z1P)

ZIP Co Limited is a payment solution provider. The company offers point-of-sale and digital payment services to merchants and consumers across health, retail, education, and travel industries

The stock fell over 13% in March. The stock appears to be under pressure amid weak investor sentiment in the buy now pay later (BNPL) segment.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.