Another record session on Wall St overnight has given the local sharemarket a nice boost today and this has seen the S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) gain 0.89% to 5,594 points.
Every sector is trading in positive territory today, with particularly strong gains coming from the utilities and financials sectors.
Four shares that have missed out on today’s rally, however, include:
a2 Milk Company Ltd (Australia) (ASX: A2M)
Shares of a2 Milk have plunged 2.8% today, despite the absence of any news from the company. It is likely that the suspension of Bellamy’s Australia Ltd (ASX: BAL) shares is making some investors nervous due to the limited amount of information that has been released by the company. Nevertheless, a2 recently released a positive trading update and appears to be much better placed to tackle any potential headwinds.
Tabcorp Holdings Limited (ASX: TAH)
Shares of Tabcorp have fallen 1.8% today after a syndicate, including Macquarie Group Ltd (ASX: MQG), launched a rival bid for Tatts Group Limited (ASX: TTS). The rival bid values Tatts Group at $4.40 to $5.00 per share, compared to Tabcorp’s offer of $4.34. Shares of Macquarie have gained 1.7% on the back of the news, while Tatts shares have spiked 5% to $4.52.
Shaver Shop Group Ltd (ASX: SSG)
Shares of the Shaver Shop reached new all-time lows today after dropping 6.7% to 91 cents. The retailer was floated in July this year at $1.05 a share, but has fallen out of favour with investors recently after the company decided not to provide updated FY17 earnings guidance as part of a trading update in October. Nonetheless, management did reiterate its confidence in meeting its prospectus forecasts on the basis of a successful Christmas trading season.
Redbubble Ltd (ASX: RBL)
Redbubble is another recent IPO that has reached new lows today after falling more than 3% to 80 cents. The online marketplace for independent artists floated in May this year at a price of $1.33. Although the shares debuted strongly, it has been one way traffic ever since. Redbubble’s business model is undoubtedly interesting, but its lack of positive earnings would also be concerning to some investors.
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Motley Fool contributor Christopher Georges owns shares of Macquarie Group Limited. The Motley Fool Australia owns shares of A2 Milk and Bellamy's Australia. 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.