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10 worst stocks of 2020: Lucio Tan, Saavedra, Tantocos, Gokongwei, Antonio Tiu biggest losers in pandemic year

Only one thing is clear about 2020, it’s a year every stock investor wants to forget.

This year has been brutal and gut-wrenching especially for punters who were caught in the near apocalyptic crash in mid-March (credit to the boneheaded move to suspend trading for two days).

While the stock market has steadily climbed from its eight-year low (4,623 in March 19) over the last nine months, it ended 2020 at 7,139, down by close to 10 percent from 2019.

At least 10 stocks lost roughly half their value in 2020 and not all
of their owners can blame the coronavirus for their miserable fortunes:

1) Lucio Tan’s Macroasia nosedived 52 percent to P6.80 on December 29
from P14.08 year to date. Revenues from its ground handling and catering businesses plunged by 60 percent through the first nine months as the airline business ground to a halt due to the
global pandemic.

2) Edgar Saavedra’s Megawide Construction cratered by 51 percent to P7.94 from P16.08 last year. Megawide posted a net loss of P610 million in January to September as its construction and transport terminal operations were hammered by the pandemic. It also lost its original proponent status to rehabilitate NAIA due to doubts on financial capacity.

3) Holcim Philippines chaired by Tomas Alcantara plummeted 47 percent to P7.25 from P13.56 a year ago. The stock fell south after bilyonaryo Ramon S. Ang scuttled his P108 billion deal to take over Holcim in May due to failure to get clearance from the Philippines Competition Commission.

4) 8990 Holdings lost 44 percent to P8.24 from P14.74 a year ago. The mass housing developer struggled with debt problems.

5) SSI Group shredded 45 percent to P1.49 from P2.72. The Tantocos suffered the brunt of the impact of the coronavirus on retailers with SSI posting P761 million in losses through the first nine months.

6) PH Resorts dropped 44 percent to P2.81 from P5.81 a year ago. The firm’s shares were diluted after owner Dennis Uy raised P1.125 billion in a follow-on offering to bankroll the company’s Cebu casino.

7) Cebu Air crashed by 43 percent to P50 from P88 a year ago. The airline incurred P14.685 billion in losses in the first three quarters due to the travel lockdown and chairman Lance Gokongwei expected losses to balloon to P25 billion by yearend.

8) Max’s Group of the Trota-Fuentebella group bled 43 percent to P6.989 from P12 last year. The restaurant group – which also owns Yellow Cab, Pancake House and Krispy Kreme franchise – gulped down nearly P1 billion in red ink in the first nine months as the coronavirus wreaked havoc on its operations

9) Roxas & Co. dropped 42 percent to P1.29 from P2.22 a year ago. The Roxas-Elizalde property firm tripled its losses in the first nine months to P1.213 billion. The company unloaded P282 million worth of properties in January and restructured P2.5 billion loans in September to solve its debt problems.

10) Agri Nurture fell 41 percent to P8 from P13.46 in 2019. Investors dumped Antonio Tiu’s stocks even though its profits surged 510 percent to P355 million in the first nine months.

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