The S&P/ASX 200 Index (Index: ^AXJO) (ASX: XJO) continues to slide, and has now dropped 0.7% in to 5,407.3. The big banks and insurers lead the way down.
But several companies have fared even worse today, with these four falling more than 5%. Here’s our take…
Atlas Pearls and Perfumes Ltd (ASX: ATP) dropped 12.5% to 10.5 cents, but is still up 69% over the past six months. A producer of pearls and perfumes, Atlas farms pearls in Indonesia and a processing facility in Tasmania. In late August, Atlas announced a 56% increase in revenues for the 2014 financial year, thanks to growing and sustainable demand for pearls globally.
TZ Limited (ASX: TZL) fell 11.1% to 12 cents. Year-to-date, shares are flat, despite a rise above 20 cents in late January. The company which supplies locking solutions to data centres, automated parcel centres and the e-commerce market, recently announced a strategic purchase order from a major European multinational banking and financial services company for the Singapore market.
iProperty Group Ltd (ASX: IPP) closed down 8% lower at $2.66. The company that operates real estate portals in Malaysia, Indonesia, Singapore and Hong Kong as well as other Asian countries, has seen its share price slump 21% in the past month. Two months’ ago, REA Group Limited (ASX: REA) bought a 17% stake in the company – perhaps hoping to emulate its outstanding success in Australia, and iProperty’s shares went on a tear at the time.
SAI Global Limited (ASX: SAI) lost 5.6% to finish at $4.18, after the company reported that one of its potential bidders has not submitted a final offer for the company, claiming uncertainty in relation to one part of SAI Global’s business. As such, the board has decided not to proceed further with this bidder, and will instead evaluate the proposals it has received.
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Motley Fool writer/analyst Mike King owns shares in iProperty Group. You can follow Mike on Twitter @TMFKinga