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.