Why these 4 ASX shares are getting clobbered today

Credit: Alon

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on the rise again today with the bourse now sitting at 5239 points. While there are a number of companies generating some huge gains today, there are also some which are showing huge losses, including these four…

Gage Road Brewing Co Limited (ASX: GRB) shares have tumbled 29% to just 4.9 cents after the brewer released an update for its third-quarter operations. While there were recent signs of improvement from the business, sales fell again in the third quarter with investors growing increasingly underwhelmed by the company’s performance.

Thorn Group Ltd (ASX: TGA) has continued to slide today following a profit warning on Wednesday. The shares are down 5.5% today and 21.3% since the announcement, in which the company said it would record a reduced profit for the 2015-16 year of between $19 million and $21 million (compared to $30.6 million in FY15). The company is also set to book a $6.7 million impairment on the goodwill in its NCML business.

Slater & Gordon Limited (ASX: SGH) shares have dropped 6.3% after losing 3% on Thursday. Prior to yesterday’s session, the shares had experienced something of a bounce based on renewed hopes regarding its UK business and its ability to negotiate a new deal with its financiers. However, the fact remains that Slater & Gordon remains a very risky investment prospect, and investors may be recognising that again.

Mesoblast limited (ASX: MSB) shares have also fallen 5.1%, making them one of the worst performing companies from the ASX 200 today. The company, which engages in the development of regenerative medicine products, recently released its quarterly report in which it burned through almost US$22 million in cash. It still had close to US$100 million at the end of the quarter, but investors may be hesitant based on the high rate of cash burn, and the possibility of further capital raisings in the future.

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Motley Fool contributor Ryan Newman has no position in any stocks mentioned. 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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