Why these 4 ASX shares are falling today
The local share market has gradually fallen deeper into the red today with the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 0.6% at the time of writing. However, these stocks are faring even worse than the broader market today…
1-Page Ltd (ASX: 1PG) has endured a horrendous run since the beginning of the year, and today is no different. Its shares have dropped another 11.9% to just $1.08 (it hit a high of $5.69 in September 2015) as investors continue to lose belief in the company’s ability to revolutionise the way companies hire and promote talent. It offers a product that certainly has the potential to become much bigger than it is today, but investors need to start seeing some more solid financial results to regain confidence in the business’ shares.
Fortescue Metals Group Limited (ASX: FMG) shares have retreated 2.6% today, despite another rise in the iron ore price during the latest session. The shares have soared roughly 86% since late January thanks to the rebounding iron ore price, but with the commodity now fetching US$57.50 a tonne, according to The Metal Bulletin, investors may be starting to take some money off the table.
Santos Ltd (ASX: STO) is another resources business whose share price has soared since late January thanks to the rising oil price. However, its shares have dropped 3% today to trade at $3.94 – down from their recent high of $4.13. Although some analysts believe oil prices can be sustained around the current level, others are more sceptical of the supply and demand imbalance within the market. If supply growth does continue to outpace demand growth, the oil price could retreat again and take Santos’ shares down with it.
oOh!Media Ltd (ASX: OML) is one of Australia’s biggest out-of-home media groups, offering customers the ability to advertise their brands and products in places such as airports, shopping centres and cafes, as well as on huge roadside billboards. Although I think the company has plenty of potential to keep on growing, it has had a strong run over the last six months and could simply be coming off the boil. Of course, there is a risk that the advertising market takes a hit if the economy hits a downturn, so that’s a risk to be aware of, but otherwise I think investors should keep a close eye on this business.
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Motley Fool contributor Ryan Newman owns shares of 1-Page Ltd. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. You can follow Ryan on Twitter @ASXvalueinvest.
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.
The local share market has gradually fallen deeper into the red today with the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 0.6% at the time of writing. However, these stocks are faring even worse than the broader market today?
1-Page Ltd (ASX: 1PG) has endured a horrendous run since the beginning of the year, and today is no different. Its shares have dropped another 11.9% to just $1.08 (it hit a high of $5.69 in September 2015) as investors continue to lose belief in the company’s ability to revolutionise the way companies hire and promote talent. It offers a product…