4 shares punished on the ASX today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) and ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) both ended today’s trading modestly lower, down 0.4%.

However, these four shares were heavily sold down by the market throughout the day.

The Ainsworth Game Technology Limited (ASX: AGI) share price has fallen roughly 15% since the beginning of the week, falling 11% today alone. The gaming machine developer today announced the resignation of Scott Clarebrough, the group’s General Manager Strategy and Development. The company moved to reassure investors by saying they are “well placed to deliver on an exciting pipeline of new products and opportunities,” but the market must have thought otherwise.

Following a share price run-up of more than 50% this month, the A2 MILK FPO NZ (ASX: A2M) share price came off the boil today, falling 10.8%. No company-specific news was released by the company, but it remains unprofitable, despite its bright future.

The Mesoblast Limited (ASX: MSB) share price also took heavy fall on no news today, falling 5.4%. The $600 million biotechnology business has fallen around 13% this week following an investor update on Monday. Yesterday, broker Bell Potter cut its Mesoblast price target by a huge 50% to $4.50 per share.

The Martin Aircraft Company Ltd (ASX: MJP) share price also took a cold bath today. Falling down 2.7% to 89 cents, Martin Aircraft’s share price is nearly half what it reached in early 2015 following its hotly anticipated initial public offering (IPO). The speculative company still boasts a market capitalisation of $146 million.

Scott Phillips, lead advisor of Motley Fool Share Advisor, has just announced his #1 dividend stock of 2015-2016 - I think it is a GREAT BUY today! Best of all, for a limited time, Scott is giving away its name and stock code free in his brand-new investment report! Simply click here, enter your email address and we'll send you his report.

Motley Fool contributor Owen Raskiewicz has no position in any stocks mentioned.

Owen welcomes your feedback on Google plus (see below), LinkedIn or you can follow him on Twitter @ASXinvest.

Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. 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.