10 Biggest Losers of This Week

Wall Street’s main indices all finished in the green during a shortened trading session this week, yet 10 companies–mainly technology stocks– still booked significant losses in their valuations. Let’s take a look at the extent of each company’s losses and the potential factors that could have dampened investor sentiment.

To come up with the biggest losers this week, we considered only the stocks that have at least $2 billion in market capitalization and $5 million in daily trading volume.

10. Coeur Mining Inc. (CDE)

Shares of Coeur Mining on Tuesday ended flat at $5.84 apiece, holding steady compared to Monday’s share price. However, the stock price dropped by 7.01 percent over the past week as investors remained cautious over the result of an investigation on whether its merger with SilverCrest Metals Inc. would be fair to shareholders.

In October this year, Coeur announced that it was fully acquiring SilverCrest, pursuant to a court-approved plan of arrangement.

If approved by the court, the acquisition would add 21 million ounces of silver production to Coeur’s portfolio and would represent 56 percent of revenues from US-based mines and 40 percent of silver revenues.

In addition, analysts have raised concerns about the company’s increasing debt, which increased to $514.9 million from $443 million in the same period last year.

9. Walgreens Boots Alliance Inc. (WBA)

Shares of Walgreens Boost Alliance (WBA) dipped by 3 percent in the first two trading days of the week, to end at $9.19 apiece from the $9.50 on Monday.

Earlier this week, the company was in the spotlight due to reports of a potential buyout, which came following a 65 percent decline in the company’s valuation over the past year and by 88 percent over the past decade.

The pharmaceutical giant earlier admitted that it made a wrong decision in acquiring a majority stake in VillageMD, a medical group that was looking to rapidly expand its footprint.

Expansion outside of Walgreens’s geographical footprint also turned out to be unprofitable, and its plans to use the service as a funnel to its pharmacies didn’t work out. The company also faced further setbacks after VillageMD defaulted on a $2.25 billion secured loan that Walgreens had provided to the company.