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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.

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

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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.

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