Solar stocks have had a sizzling 2013, with names like Canadian Solar (CSIQ) and SolarCity (SCTY) posting triple-digit year-to-date returns. But two big names in the space — Yingli Green Energy (YGE) and Trina Solar (TSL) — have both shown some weakness of late. In fact, YGE stock and TSL stock are both featured on Monday’s list of biggest stock losers.
Still, the cooled-off solar stocks weren’t having as bad of a Monday as the company that tops our list of biggest stock losers today: OSI Systems (OSIS). OSIS fell off a cliff in Monday morning trading.
Keep reading to find out what sent OSIS stock, YGE stock and TSL stock falling … and what other names made Monday’s list of biggest stock losers.
Biggest Stock Losers
OSI Systems (OSIS, -40%): OSIS stock fell from over $65 to under $45 on Monday, handing it the unwanted top spot for our list of biggest stock losers. The catalyst for the huge drop in OSI Systems was the fact that the U.S. Transportation Security Administration cancelled a $60 million order for screening machines.
NII Holdings (NIHD, -8%): NIHD stock continue what’s been a much steadier downward slide on Monday, making it another of the biggest stock losers. NII Holdings — the holding company for the operations of Nextel Communications — has lost over 65% since Jan. 1.
Yingli Green Energy (YGE, -7%): As we said, solar stocks have been popping up on our lists of biggest stock losers in recent weeks. While YGE stock took a tumble last week, it fell another 6% this morning as Chinese solar demand was brought into question by analysts at Credit Suisse. That cools the year-to-date gain for YGE stock to under 80%.
Trina Solar (TSL, -6%): Another of the solar stocks is up on our list of biggest stock losers … and for the same reason. The analysts said that Yingli Green Energy, Trina Solar and JinkoSolar (JKS) were the most vulnerable to falling Chinese demand. The good news: TSL stock is still up over 170% since Jan. 1.
Edwards Lifesciences Corp. (EW, -6%): Another name that’s been one of the biggest stock losers for the full-year was Edwards Lifesciences. EW stock fell over 5% in early trading on Monday as sales estimates for 2014 missed targets, with the company citing higher competition. That brought the stock’s year-to-date losses to over 30%.
Check in daily for each morning’s biggest stock losers.
As of this writing, Robert Martin did not hold a position in any of the aforementioned securities.