Why these 4 ASX stocks are crashing today

Reffind Ltd (ASX:RFN) and 1-Page Ltd (ASX:1PG) dropped steeply today.

| More on:
a woman

The share market jumped 1.8% today as investors looked to a seasonal Santa rally on the first day of December. However several companies headed south so it’s worth taking a look at what may be behind the moves of some of today’s big fallers.

MNF Group Ltd (ASX: MNF) is the business formerly known as My Net Fone that provides online voice communications through a variety of entities to retail and business customers. The business recently expanded its international horizons, but the stock fell 2.6% today likely due to the fact that shares trade on lofty 26x trailing earnings. However, the company offers long-term growth potential is founder led, enjoys tailwinds, and looks reasonable value at today’s price.

1-Page Ltd (ASX: 1PG) shares fell 9% to $3.50 today as investors likely take on board a quarterly commentary issued yesterday that didn’t quite match up to the great expectations priced into the company’s value. Revenues were up 20% for the most recent quarter over the prior quarter, although this digital recruitment business has a lot of work ahead to justify today’s valuation.

JB Hi-Fi Limited (ASX: JBH) shares dropped 1.9% likely as the ripples from Dick Smith’s troubles spread to other electronics retailers. JB Hi-FI recently posted some strong quarterly growth numbers however and looks to remain the best consumer electronics retailer for anyone attracted to this space.

Reffind Ltd (ASX: RFN) shares dropped 7.2% to 77 cents today as this digital employee administration business comes back to earth after shares recently soared as high as $1.97 in October. Clearly the market is struggling to value the business’s cash-generating potential and the wild price swings suggest it is one to watch from the sidelines.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

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

*Returns as of January 12th 2022

Motley Fool contributor Tom Richardson owns shares of My Net Fone Limited. You can find Tom on Twitter @tommyr345 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.

More on ⏸️ Investing

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest
ETFs

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
⏸️ Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
⏸️ Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

asx share price competitions represented by businessmen arm wrestling
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
⏸️ How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »

person reading news on mobile phone
⏸️ Investing

Why Fox (NASDAQ:FOX) might hurt News Corp (ASX:NWS) shareholders

News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January

Read more »