By James Bowden of Stockomendation | Saturday 22 December 2018
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
The biggest casualty of the week was online fashion retailer ASOS (ASC), which was toppled from its position as the most valuable company on AIM after shares sunk by 50%. Investors were spooked by the company’s trading update for the first three months of the financial year – released on Monday – warned of a “significant deterioration in the important trading month of November and conditions remain challenging”. After three years of impressive returns, 2018 had already proven a fairly rough year for holders in ASOS prior to this week’s events. Still, brokers and tipsters (on the whole) have been bullish about the future prospects of the company.
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