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4 ASX stocks smashed by the market today

Despite weak leads from offshore markets, the S&P/ ASX 200 Index (Index: ^AXJO) (ASX: XJO) has surged  around 0.9% in mid-afternoon trading, with most of the top 20 stocks in positive territory.

Unfortunately, some smaller stocks have been hammered. Here’s our view on four of them…

Mint Wireless Limited (ASX: MNW)

Mint’s shares have dropped 17.3% to 9.1 cents, despite the company releasing no news. Perhaps investors were spooked by an Australian Financial Review (AFR) article today, reporting that the government had agreed to abolish the need for credit card issuers and processors to have a banking licence. The AFR says 10 organisations want to compete with the banks, while mobile payment providers Square, Payvision and Airplus International are considering issuing ‘virtual’ credit cards. It remains to be seen whether the changes are positive or negative for Mint.

Freelancer Ltd (ASX: FLN)

The provider of an online freelance marketplace, continues to see its shares fall. Today they have lost 6.4% to 65.5 cents, and are down 22% over the past month. It’s a far cry from a high of $1.99 back in November 2013, shortly after the company listed. Still, revenues and registered users are both growing strongly, so this may be one stock to watch.

Central Petroleum Limited (ASX: CTP)

Central’s shares have sunk 5.8% to 24.5 cents in trading today. The company says it holds the largest prospective onshore acreage in Australia, with an estimated 270,000 square km, mainly in the Northern Territory. Interestingly, director Robert Hubbard acquired 55,900 shares on market last week, perhaps suggesting positive results are expected from the company’s Gaudi-1 gas exploration well.

Liquefied Natural Gas Ltd (ASX: LNG)

LNG has seen its shares drop 5.9% to $2.88, with shares losing 19% in the past five days. The reasons could be several, ranging from profit taking, after shares soared 1,408% since the beginning of this year, to concerns over sliding oil prices. LNG (the company) is developing one of the US’s first LNG (gas) export terminals, utilising its proprietary technology.

Where to invest $1,000 right now

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Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

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Motley Fool writer/analyst Mike King doesn't own shares in any companies mentioned. You can follow Mike on Twitter @TMFKinga

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