Despite the S&P/ASX 300 (Index: ^AXKO) (ASX: XKO) storming higher today and closing up 2.1%, not all stocks posted positive returns today.
These 4 stocks saw their share prices tumble
Mesoblast limited (ASX: MSB) saw its share price drop 8.9% to $3.16. The stem cell therapy group today reported that its cell therapy has the greatest cardioprotective effect in patients with advanced heart failure. Mesoblast I still conducting Phase III trials with partner Teva Pharmaceuticals. The company has already won approval for its first stem cell therapy from the Japanese regulator.
Santos Ltd's (ASX: STO) share price crashed another 7% to $3.98, despite oil prices rising 1.8% overnight. Santos' share price has dropped more than 70% over the past 12 months. It seems today's announced capital raising by Origin Energy Limited (ASX: ORG) might've spooked investors, with many expecting Santos to follow suit and raise capital to shore up its balance sheet. A huge capital raising might require a substantial discount to today's price to get investors interested.
Credit Corp Group Limited (ASX: CCP) share price dropped 3.5% to $10.21. The debt collector recently forecast growth in net profit for the 2016 financial year of between 4.2% and 9.4% over the previous year and a positive outlook. Investors may be concerned about the company's US business, which continues to struggle.
Capitol Health Ltd (ASX: CAJ) share price slipped 1.7% to $0.57 and has now fallen more than 34% year-to-date. The diagnostic imaging provider is a favourite with some brokers, and Credit Suisse has a price target of 92 cents on the company. Forbes also recently named Capitol Health as one of its top 9 best small cap ASX stocks – out of 17,000. Organic growth and increasing revenues from recent acquisitions could well make today's share price a bargain, and it's one I'm watching closely.
