Both were good guesses. Maverick, a promising high flier hitting share-market turbulence, and Silver Lake, affected by concerns around the falling price of gold, are some of the last 12 month’s worst performers, as shown in the chart below.
But the worst performer of all has been Billabong (BBG.AX). The tumult in the takeover bidding process for this surfwear company have seen the share price dive over 80%, as several would-be bidders have withdrawn after reviewing the company’s accounts.
Billabong is currently in a 10-day review period with U.S. private equity firm Sycamore Partners. Yet, as The Australian Financial Review has reported, “The surfwear and board sports company, which owns brands such as RVCA, Nixon and DaKine, warned there is no guarantee that the transaction will proceed. It added that both parties had been working ‘constructively and with the utmost cooperation’ to progress the quality of earnings report and the potential transaction.”
Looking for few more promising ideas? Look no further! Discover two stellar small-cap opportunities now, in our brand-new research report, “2 Small Cap Superstars” — simply click here to download your FREE copy.
Motley Fool contributor Catherine Baab-Muguira has no financial interest in any of the companies mentioned in this article.The Motley Fool’s purpose is to help the world invest, better. Take Stock is The Motley Fool’s free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. Click here now to request your free subscription. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.