Although it has faded a touch in afternoon trade, the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is in positive territory and up 0.2% to 5,731 points.
Four shares which haven't managed to follow the index higher today are listed below. Here's why they have fallen lower:
The Audio Pixels Holdings Ltd (ASX: AKP) share price has tumbled 5% to $17.05. Yesterday the shares of the manufacturer of next-generation audio speakers rocketed higher after it announced that its speakers are close to a commercial standard. Whilst the company could have enormous potential, I would stay clear of the company until it has a finished product and is generating sales.
The Aventus Retail Property Fund (ASX: AVN) share price is down 5% to $2.39 after announcing the successful raising of approximately $162 million from institutional investors at $2.32 per share. The proceeds from the equity raising will be used to partially fund the acquisition of two large format retail centres located in Castle Hill and Marsden Park for $436 million.
The Vita Group Limited (ASX: VTG) share price has continued its decline, this time by 3.5% to 95.5 cents. The retailer's shares have fallen almost 60% in May after it emerged that Telstra Corporation Ltd (ASX: TLS) intends to reduce its remuneration by 10% each year for the next three years. Although it is dirt cheap, I think investors would be best staying clear of the retailer at this point.
The Zelda Therapeutics Ltd (ASX: ZLD) share price has fallen once again, this time by 7% to 5.5 cents. Much like Vita, Zelda's shares have also had a month to forget. The medicinal cannabis company's shares are down almost 47% in May. Although I think the company has a lot of potential, I feel it may still be a little soon for an investment.
