The Bega Cheese Ltd [ASX:BGA] share price plunged over 5% yesterday after emerging from its trading halt.
While it’s not news that the company has seen a troubling continuing decline in the past six months, it’s unclear exactly why Bellamy’s Australia Ltd [ASX:BAL] saw a considerable drop today.
The share price of Australian infant formula company Bellamy’s Australia Ltd [ASX:BAL] has dropped by nearly 5% in this morning’s trade, after a broker note out of Goldman Sachs slashed its price target by a whopping 18%.
These stocks are usually small, new companies with huge potential to growth revenues and earnings. Bellamy’s [ASX:BAL] was — and maybe still is — a growth stock.
Bellamy’s Australia Ltd [ASX:BAL] traded up as much as 4.4% on Friday, to a high of $5.22 per share.
Last year Bellamy’s Australia [ASX:BAL] shares made amazing 724.85% returns for investors. The dramatic share price rise was largely due to their continual profit increases. Yet Bellamy’s shares are down more than 32% in just four months. So are they still worth investing in now?