The Motley Fool

Why these 4 shares are getting hammered today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has started the week on a strong note, inspired by the gains recorded by international equity markets on Friday. Unfortunately, however, a number of shares are not enjoying the same level of success today, with some trading deep in the red…

iCar Asia Ltd (ASX: ICQ) shares are trading 14.6% lower, although they did fall as much as 21.5% this morning to a low of 51 cents. The company said its revenue had been adversely impacted by market conditions in three of its major geographical regions, while it has also invested more aggressively than anticipated in consolidating its leadership position in those markets in light of rising competition. The shares have fallen nearly 43% since the beginning of 2016.

MMA Offshore Ltd (ASX: MRM) shares have fallen 11.8% today to 30 cents. The company said one of its key contracts in South East Asia had been suspended, impacting the rates and utilisation for two of its vessels, while it also expects a “significant rate reduction” on a separate three-vessel contract in the Middle East. It expects the total impact on earnings before interest, tax, depreciation and amortisation (EBITDA) to be around $10 million.

St Barbara Ltd (ASX: SBM) is the worst performing share from the ASX 200 group today, falling 7.3% to $3.04. The gold miner is suffering as a result of a sharp pullback in the price of gold during the latest session. This was likely influenced by better-than-expected jobs data from the United States, which could open the door for an interest rate hike in that country sooner rather than later.

1-Page Ltd (ASX: 1PG) shares have also lost another 7.8%, taking the stock’s total loss to nearly 94% since peaking at $5.69 last September. Although the company hasn’t released any news that would specifically explain today’s decline, it seems investors are simply growing increasingly doubtful of 1-Page’s ability to grow its cash flows and revenues. Momentum selling may also be playing a role in the stock’s heavy decline.

NEW. The Motley Fool AU Releases Five Cheap and Good Stocks to Buy for 2020 and beyond!….

Our experts here at The Motley Fool Australia have just released a fantastic report, detailing 5 dirt cheap shares that you can buy in 2020.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading over 40% off its high, all while offering a fully franked dividend yield over 3%...

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click here or the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.


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.