4 shares plunging on the ASX today

In a topsy-turvy day on the ASX today, the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) closed down 0.6% at 5,080.5.

It looks like 2015 is going to be a dismal year for many shareholders, with the index down 6% year-to-date.

Still, it could’ve been worse. The market could have fallen as far as these shares…

Cardno Limited (ASX: CDD) saw its share price sink 7.1% to $1.52. The consulting and environmental services company continues to see its share price fall, after losing 44% on one day earlier this month, following a rights issue to raise $78 million. Perhaps shareholders have lost faith and are bailing rather than kick in more capital.

Transpacific Industries Group Ltd. (ASX: TPI) saw its share price drop 5.0% to $0.67. For the year, the recycling and garbage disposal company’s share price is down over 25%. Colleague John Hopkins covered the company in some detail here in August, suggesting the steps are in place for a continued turnaround in Transpacific.

Platinum Asset Management Limited (ASX: PTM) saw its share price fall 5.0% to $7.68, despite no news from the well-known fund manager. Earlier this week, Platinum reported that it had $27.2 billion in funds under management, down from $28 billion at the end of October 2015, with most of the fall attributed to falls in global equity markets.

Premier Investments Limited (ASX: PMV) saw its share price slide 4.4% to $13.62, despite a survey suggesting retailers are entering the 2015 Christmas season more optimistic than they have been about sales since the survey began 4 years ago. Premier owns Smiggle, Just Jeans, and Jay Jays as well as Peter Alexander, Jacqui-E, Dotti and Portmans fashion brands.

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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

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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