MENU

Mayne Pharma Group Ltd share price continues to slide lower

Unfortunately for its shareholders, the Mayne Pharma Group Ltd (ASX: MYX) share price is once again in the red.

In late afternoon trade the pharmaceutical company’s shares are down over 2% to $1.01, bringing its decline over the last five trading sessions to over 10% and leaving it hovering just a fraction above its 52-week low.

Why have its shares fallen?

Investors have been avoiding the company this year due largely to allegations of drugs price-fixing in the United States and concerns over the impact that President Trump’s policies on generic drug prices will have on its sales.

Unfortunately, the only investors that appear to be interested in its shares right now are short sellers. Earlier in the week we revealed that short sellers held approximately 12.6% of the company’s shares.

Despite its shares falling 43% in the last 12 months, short sellers appear to believe it has further to fall.

OUR #1 dividend pick to grow your wealth over the new financial year is revealed for FREE here!

Financial year 2018 is here and The Motley Fool's dividend detective Andrew Page has revealed his must buy dividend share to grow your wealth in 2018.

You probably don't know this market leader, but it's making waves in Asia and already boasts a term-deposit-crushing dividend above 4%. A debt free balance sheet and dominant market position at home and abroad mean this company offers investors income and some real-deal growth potential...

Simply click here to grab your FREE copy of this up-to-the-minute research report on this rising star right now.

Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. 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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.