Three worst performing ASX-listed shares in November

Highlights

  • The Australian sharemarket recorded its third consecutive monthly drop in November.
  • The benchmark index fell 0.9% over the period to 7,256 points.
  • These are the three worst performers from last month – NEA, CUV, and Z1P.

The ASX 200 reported a muted performance in November and fell 0.9% over the period to 7,256 points. It was the benchmark index’s third consecutive monthly drop. A number of companies reported losses in value in the month due to negative developments, which raised concerns among investors. In addition, there were a few firms which slipped in November despite releasing strong trading updates.

Here are the three worst performing ASX-listed shares in November 2021:

Nearmap Ltd (ASX:NEA)

Nearmap is a technology-driven company that has laid the platform for frequently updated and high-resolution aerial imagery. The stock was the worst performer on the ASX 200 in November with a fall of 27.6%. The stock was under pressure despite the company providing an FY2022 annual contract value (ACV) growth guidance of 17% to 24.8% Y-O-Y. Furthermore, the Utah Federal Court denied the company’s motion to dismiss two of the claims by the US-based rival aerial imaging outfit, Eagleview.

Clinuvel Pharmaceuticals Ltd (ASX:CUV)

Clinuvel is a global pharmaceutical firm which is into the development of Scenesse (its proprietary first-in-class drug, as a photoprotective) to manage a range of UV and light-related skin disorders and other products for treating genetic disorders. It was the second-worst performer share last month with a fall of 25.5%.

The stock might have weighed on investors’ sentiments amid concerns over the launch of a new product competing with Clinuvel’s Scenesse therapy in the treatment of EPP. Erythropoietic protoporphyria (EPP) is a rare metabolic disorder that causes severe anaphylactoid reactions to light.

The ASX 200 fell 0.9% over the period to 7,256 points in November.

Source: © Herrbullermann  | Megapixl.com

Zip Co Ltd (ASX:Z1P)

ZIP Co Limited is a payment solution provider. The stock fell as much as 20.5% last month. According to experts, the stock could have been pulled down by a few reports in the US suggesting that fraud cases were on the rise in the BNPL industry. Even the rise in competition in the BNPL sector might have negatively impacted the chances of the company. This came despite Zip reporting strong growth in October. The company reported a record AU$770 million in transaction volume in the month.

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