In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is up a solid 1.7% to 5,780 points.
Unfortunately not all shares have been able to follow the market higher. Here's why these four shares have tumbled lower:
The Catapult Group International Ltd (ASX: CAT) share price has fallen 4.5% to $2.31 despite there being no news out of the sports analytics company. But with its shares up strongly in the last month, I suspect that today's decline is likely a case of profit taking.
The Evolution Mining Ltd (ASX: EVN) share price has dropped 4.5% to $2.21. The majority of Australia's gold miners have fallen today after the gold price fell sharply as investors ditched safe havens for risk assets again. Currently the spot gold price is fetching US$1,222 an ounce. I wouldn't be surprised to see it fall lower over the coming months, adding further pressure to the gold miners.
The Hansen Technologies Limited (ASX: HSN) share price is down 4.5% to $3.86 following the completion of its institutional placement. The billing solutions provider raised $40 million at $3.70 per share in order to fund the acquisition of Enoro Holdings and for working capital purposes. A further $10 million is expected to be raised through a Share Purchase Plan.
The New Hope Corporation Limited (ASX: NHC) share price is down 3% to $1.49 despite coal prices edging higher overnight. This latest decline means that New Hope's shares have now tumbled almost 20% in just the last three months.
