Why these 4 ASX stocks are crashing today

Reffind Ltd (ASX:RFN) and 1-Page Ltd (ASX:1PG) dropped steeply today.

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The share market jumped 1.8% today as investors looked to a seasonal Santa rally on the first day of December. However several companies headed south so it's worth taking a look at what may be behind the moves of some of today's big fallers.

MNF Group Ltd (ASX: MNF) is the business formerly known as My Net Fone that provides online voice communications through a variety of entities to retail and business customers. The business recently expanded its international horizons, but the stock fell 2.6% today likely due to the fact that shares trade on lofty 26x trailing earnings. However, the company offers long-term growth potential is founder led, enjoys tailwinds, and looks reasonable value at today's price.

1-Page Ltd (ASX: 1PG) shares fell 9% to $3.50 today as investors likely take on board a quarterly commentary issued yesterday that didn't quite match up to the great expectations priced into the company's value. Revenues were up 20% for the most recent quarter over the prior quarter, although this digital recruitment business has a lot of work ahead to justify today's valuation.

JB Hi-Fi Limited (ASX: JBH) shares dropped 1.9% likely as the ripples from Dick Smith's troubles spread to other electronics retailers. JB Hi-FI recently posted some strong quarterly growth numbers however and looks to remain the best consumer electronics retailer for anyone attracted to this space.

Reffind Ltd (ASX: RFN) shares dropped 7.2% to 77 cents today as this digital employee administration business comes back to earth after shares recently soared as high as $1.97 in October. Clearly the market is struggling to value the business's cash-generating potential and the wild price swings suggest it is one to watch from the sidelines.

Motley Fool contributor Tom Richardson owns shares of My Net Fone Limited. You can find Tom on Twitter @tommyr345 Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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