Why these 4 ASX shares are getting smashed today

It has been a great start to the week for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In early afternoon trade the index has climbed almost 1.2% higher to 5,242 points after Hillary Clinton appeared to take a bigger lead in the race to the White House.

Four shares which haven’t followed the market higher today and instead have dropped lower are as follows:

BWX Ltd (ASX: BWX) shares have plunged 5% to $4.08 despite there being no news out of the personal care company. Today’s performance means its shares are now down over 16% in the last five trading sessions. At 21x forecast FY 2017 earnings its shares do look to be reasonable value now. Especially considering analysts expect earnings growth of over 36% per annum through to FY 2019 according to CommSec.

EVOLUTION FPO (ASX: EVN) is one of a number of gold miners being hammered today. Its shares are down over 5% to $2.32 following a drop in the gold price after Hillary Clinton was cleared of any wrongdoing by the FBI. Many expect a Trump victory could catapult the gold price higher. So with Clinton pushing ahead in the polls, this is beginning to look less likely.

Myer Holdings Ltd (ASX: MYR) shares have dropped 2.5% to $1.09 today as short interest rises in the department store operator. Now, 17.5% of Myer’s shares are in the hands of short sellers as investors become increasingly bearish on its prospects. We should learn more about how the business is performing at its upcoming AGM on November 18.

Vita Group Limited (ASX: VTG) shareholders just can’t catch a break at the moment, as it has fallen once again. This time the telecommunications retailer’s shares have dropped by 4% to $3.44. A cloud is hanging over the company at the moment due to it being in negotiations with Telstra Corporation Ltd (ASX: TLS) over the remuneration it receives from the telco giant for operating its retail stores. The sooner the new terms are revealed the better.

If your portfolio took a hit today because of this then an investment in these growth shares could be just the ticket. Each has strong growth potential and a good chance of climbing higher in the months ahead if you ask me.

Why These 3 Blue Chip Shares Are Set to Soar for Smart Investors

Discover The Motley Fool's Top 3 blue chips for Smart Investors. These 3 'new breed' shares pay fully franked dividends AND offer the prospect of significant capital appreciation. Simply click here to gain access to this comprehensive FREE investment report.

No credit card required!

Motley Fool contributor James Mickleboro 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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.