The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has had a disappointing start to the week. In early afternoon trade the index is down 0.4% to 5,725 points.
Four shares which have started the week with even greater declines are listed below. Here’s why they have started the week deep in the red:
The Apiam Animal Health Ltd (ASX: AHX) share price has tumbled 14% to 68 cents. The veterinary products and services provider’s shares fell over 30% on Friday following the release of its full-year guidance. Increases in its cost base and falling margins appear to have concerned some investors.
The Domino’s Pizza Enterprises Ltd. (ASX: DMP) share price has fallen 4% to $59.14. Today’s decline appears to relate to a research note out of Morgans which revealed that its analysts have downgraded the pizza chain operator to a hold rating with a $65.62 price target. I believe this latest decline puts Domino’s at an appealing level for a buy and hold investment.
The DWS Ltd (ASX: DWS) share price has dropped almost 9% to $1.68 after it emerged that fellow IT services company ASG Group had made a move for SMS Management & Technology Limited (ASX: SMX). DWS had hoped to acquire SMS Management & Technology for the equivalent of $1.61 per share. ASG Group has made a non-binding expression of interest valuing SMS at $1.80 in cash per share.
The Zelda Therapeutics Ltd (ASX: ZLD) share price has plunged 11% to 6.6 cents. Today’s decline means the pot stock has fallen over 37% this month despite there not being a single piece of news out of the company. As I said earlier, unfortunately this decline is an example of why investing in the medicinal cannabis industry is not suitable for the majority of investors.
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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.