Most Hated Stocks Of 2014: DELiA*s, Inc. (DLIAQ), Corinthian Colleges Inc. (COCO) and Wet Seal Inc. (WTSL)
The U.S stock market will be wrapping up another year of impressive gains much to the excitement of investors who picked their stocks with precision seen by the exciting double-digit gains. However every year there are losers and there is nothing to smile about for investors whose portfolio might have been made of the likes of dELiA*s, Inc. (OTCMKTS:DLIAQ), Corinthian Colleges Inc. (NASDAQ:COCO) and Wet Seal Inc. (NASDAQ:WTSL), which have turned out to be a total disappointment year long.
Omni channel retail company dELiA*s, Inc. (OTCMKTS:DLIAQ) comes on top as the worst performing stock of the year having seen its value plummet by 99.38% on a year to date basis. The company is already in the process of filing for bankruptcy as the heat from liquidity issues become too much. The demise of Delia has to do with changing consumer trends as teenagers nowadays are increasingly preferring to do their shopping online as opposed to visiting malls.
dELiA*s, Inc. (OTCMKTS:DLIAQ) is at the moment seeking approval to close its existing stores and distribution centers which have been a total letdown year long on declining sales. The filing of bankruptcy is the final insult to shareholders who have stuck with the company on years of steady losses from the high of $10 a share that the stock traded at, in 2007.
Closely following Delia on the worst performing stocks of the year is clothing retailer Wet Seal Inc. (NASDAQ:WTSL) that continues to grapple with liquidity issues. The company has admitted that it might be forced to file for bankruptcy protection should it not find long term solution to its liquidity issues. The stock is already down by 96.9% having seen its losses double in the third quarter to $36 million.
Wet Seal Inc. (NASDAQ:WTSL) saw its net sales for the third quarter drop by more than 9% to $104 million with same-store sales also sinking by 15%.
Post-secondary education company Corinthian Colleges Inc. (NASDAQ:COCO) has experienced one of the most torrid years in the recent past seen by its stock losing 96.11% in valuation this year. The company is also grappling with concerns of a possible delisting from the NASDAQ stock exchange. The biggest challenge that Corinthian Colleges Inc. (NASDAQ:COCO) is facing at the moment is a decline in enrollments as a result of federal investigations. While Corinthian Colleges is one of the largest post-secondary education companies in the world it is currently under criminal investigation and faces numerous investigations and lawsuits. The California Attorney General has charged the for profit educator with targeting single parents who are near the poverty level and facing issues of low self-esteem. Documents seized in investigations have shown the company describing predatory practices in how it targets clientele.
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