Why these 4 ASX shares sank like stones today

The Woolworths Limited (ASX:WOW) share price is one of four sinking like stones today. Here's why…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is pushing higher and finds itself up almost 0.3% to 5,753 points.

Unfortunately not all shares have followed the market higher today. Here's why these four shares have sunk like stones:

The Healthscope Ltd (ASX: HSO) share price has continued its decline and fallen a further 5% to $1.75. Yesterday the company released a weak full-year result which saw statutory net profit after tax fall 38.8% to $110.9 million. Further to this, in FY 2018 its Hospitals EBITDA is expected to be flat. I believe there are better options out there for investors even after its heavy decline.

The Nanosonics Ltd. (ASX: NAN) share price has tumbled over 6% to $2.21 despite the infection control specialist reporting record sales of $67.5 million and profit after tax of $26.2 million. Investors may be concerned at the strong rise in operating expenses next year due largely to investments in research and development. I think Nanosonics could be worth a look after this decline.

The Trade Me Group Ltd (ASX: TME) share price has plunged almost 7% to $4.17 despite the online marketplace provider posting a 26% increase in net profit to NZ$94.4 million. It appears as though investors were disappointed with its guidance for FY 2018. Although revenue is expected to continue growing strongly, management expects profit growth to slow due to a higher level of planned investments.

The Woolworths Limited (ASX: WOW) share price has fallen 3.5% to $26.00 a day after the release of its full-year results. Today's decline could be attributable to a research note out of Credit Suisse this morning which revealed that its analysts have retained their underweight rating and $22 price target on the conglomerate's shares.

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of Nanosonics Limited.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.

More on ⏸️ Investing

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest
ETFs

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
⏸️ Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
⏸️ Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

Two people in suits arm wrestle on a black and white chess board.
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
⏸️ How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »

⏸️ Investing

Why Fox (NASDAQ:FOX) might hurt News Corp (ASX:NWS) shareholders

News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January

Read more »