4 more stocks sinking on the ASX today

S&P/ASX 200 sinks 0.3%, but these 4 fared much worse

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has closed down 0.3% at 5,413.6 following weak leads from offshore markets. In a day really of non-events, there was no change to the official cash rate by the RBA and today's fall partly offsets yesterday's 1.1% gain.

However, these four companies didn't fare as well, falling much further than the market.

Eureka Group Holdings Ltd (ASX: EGH) saw its share price sink 6.4% to 73.5 cents, despite no news from the company. Eureka provides accommodation villages for senior Australians and recently purchased its 25th freehold village in Broken Hill, NSW. The company has acquired a number of retirement villages since 2014 and turned them into cheap accommodation for older Australians (not just retirees). Perhaps investors were switching into the aged care providers today as their shares went for a strong run.

Slater & Gordon Limited (ASX: SGH) saw its share price lose 4.3% to sink to 44.5 cents and a market cap of just $139 million. The shares have now lost half their value since the start of this year, although shares did jump around 10% yesterday. As we noted, it's probably not a wise idea to read anything into today's move as the share price for the troubled law firm is highly volatile.

Infigen Energy Ltd (ASX: IFN) fell 4.1% to 94.5 cents, but as we noted earlier today, the share price is up strongly so far this year (302%) as we wrote this morning. The wind farm and renewable energy company has sold off assets, cut its debt and reported strong growth in earnings. Today's fall may well just be some investors taking profits – despite the company forecasting a strong 2017 financial year ahead.

Cash Converters International Ltd (ASX: CCV) fell 6.2% to 30.5 cents, and the share price has now lost 35% in the past month. The pawnbroker and personal finance company faces a class action from borrowers for charging excessive fees and interest between 2009 and 2013 and that is obviously hanging over the company's head. The company is also in the process of restructuring its UK business and unprofitable – hence investors dislike for the company.

Motley Fool writer/analyst Mike King doesn't own shares in any companies mentioned. You can follow Mike on Twitter @TMFKinga 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.

More on ⏸️ Investing

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest
ETFs

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
⏸️ Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
⏸️ Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

Two people in suits arm wrestle on a black and white chess board.
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
⏸️ How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »

⏸️ Investing

Why Fox (NASDAQ:FOX) might hurt News Corp (ASX:NWS) shareholders

News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January

Read more »