AK Steel is suffering from what those on Wall Street call a 'crisis of confidence.' After touching $70 a share in 2008, AK Steel has fallen to just under three bucks. Last year steel pricing was terrible, demand was weak, and AK's shipments to rejuvenated automakers couldn't save it from disappointing investors.
Add in a broken pension, suspended dividend, and weak construction sales around the world, and you understand why shares tumbled by 43% in 2012.
Wal-Mart retook the top spot, Berkshire Hathaway made the top five, and Apple grew enormously.