Business
These were the worst performing ASX 200 shares last week 13 March 2021
The S&P/ASX 200 Index (ASX: XJO) was on form last week thanks and rose 0.8% over the five days to end it at 6,766.8 points.
Unfortunately, not all shares climbed higher with the market. Here’s why these were the worst performers on the ASX 200 last week:
The Zip share price was the worst performer on the ASX 200 last week with a disappointing 10.2% decline. Weakness in the tech sector due to concerns over rising bond yields and a broker note out of UBS weighed on the buy now pay later provider’s shares. In respect to the latter, UBS downgraded Zip’s shares to a sell rating with a $6.40 price target. This compares to the Zip share price of $8.59 at the end of the week.
Smartgroup Corporation Ltd (ASX: SIQ)
The Smartgroup…
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