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4 shares sinking on the ASX today

ship sinking

Four days in a row of gains has seen the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) soar past the 5,000 mark, with gains in both the large resources companies and big four banks driving the index higher.

Unfortunately for shareholders in these 4 companies, they saw their share prices sink…

Mesoblast limited (ASX: MSB) saw its share price sink 6.7% to $2.63, however that is coming off strong gains, including 28% yesterday and 142% prior to that in the previous three weeks. The promising biotechnology company has a promising number of stem cell trials underway, but the share price can be extremely volatile.

Caltex Australia Limited (ASX: CTX) share price dropped 4.3% to $34.75, although sellers are missing out on the 70 cent fully-franked dividend by just a few days. Caltex shares go ex-dividend on March 9, with the dividend paid out on April 4. The petroleum retailer recently reported $20 billion in revenues for the 2015 financial year, and a booming profit to boot.

Sirtex Medical Limited (ASX: SRX) share price dropped 3% to $31.90. The liver cancer health care company recently reported a record interim profit, but the share price sank 5% on the day to $34.30. The share price then jumped yesterday, suggesting the market is struggling to value the shares. Earlier this week broker Wilson HTM put a price target of $46.50 a share on the company with a number of potentially positive catalysts ahead.

Tatts Group Limited (ASX: TTS) share price dropped 2.7% to $3.64 as investors mull the High Court’s decision yesterday to make the gaming operator repay $540 million plus interest and legal fees to the Victorian state government. Media reports suggest the company could be forced into fresh merger talks with Tabcorp Holdings Limited (ASX: TAH), despite CEO Robbie Cook’s declaration that there ‘zero’ chance of renewed talks.

Where to 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 more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

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

*Returns as of June 30th

Motley Fool writer/analyst Mike King owns shares in Sirtex. 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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