Three ASX Stocks Struggle in 2024 with Significant Losses

2 min read | January 02, 2025 05:32 PM AEDT | By Team Kalkine Media

Three ASX Stocks Struggle in 2024 with Significant Losses — Image source: Shutterstock

Star Entertainment Group Ltd (ASX:SGR)

Star Entertainment Group, the casino and resorts operator, had a particularly difficult year, with its share price dropping 63%. The company was hit hard after it released its full-year results, which showed a statutory loss of AU$1.7 billion. This poor financial performance, combined with increased pressure from regulators, caused investors to sell off their shares. The company’s troubles were further compounded by the release of the final report from the 2024 Independent Inquiry into The Star, conducted by Adam Bell SC, which brought additional scrutiny to its operations.

Coronado Global Resources Inc (ASX:CRN)

Coal miner Coronado Global Resources saw its share price plummet 57% in 2024. The company faced several operational difficulties, including mechanical issues at its Curragh Complex, which led to a significant drop in production. Furthermore, the complex experienced rainfall levels that were more than three times the 10-year monthly average, further disrupting operations. As a result, Coronado was forced to downgrade its production guidance and revise its cost forecasts, contributing to the sharp decline in its stock price.

Audinate Group Ltd (ASX:AD8)

Audinate Group, a tech company listed on the ASX 200, also had a challenging year, with its share price falling 54%. The company reported a sudden and significant deterioration in its performance, which was attributed to a combination of factors. Shorter order lead times, an increase in industry inventory levels, slower clearance of raw material inventories by its manufacturing customers, and weaker-than-expected demand from end-users all weighed heavily on Audinate’s results. These issues led to a sharp sell-off in the stock, impacting its valuation.

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